Augmentir, a Horsham, PA-based provider of AI-based connected worker solutions, announced that it completed a new financing round and is expanding its team to support the company's accelerating growth.
The round was led by Gardner Lewis Asset Management, with participation from Lerer Hippeau, Pritzker Group Venture Capital, and the company's founding team.
The capital will be used to expand its global sales and marketing efforts while accelerating product development and innovation.
In addition to the funding news, Augmentir has also announced organizational growth: Kiyomi Otani joins the team as Vice President of Operations, and Carsten Hunfeld will become the company's Director for EMEA.
"We're thrilled to be able to raise capital at a significant increase in Augmentir's valuation, at a time when peers are struggling in the market," said Russ Fadel, CEO of Augmentir. "Our exponential growth is a result of our commanding AI-based competitive advantage, and has given us a leadership position in the Connected Worker space."
Augmentir connected worker technology uses artificial intelligence to digitize and optimize frontline operations based on worker capabilities and task complexity.
The company’s suite of AI-powered connected worker tools helps industrial companies deliver effective, individualized skills management, training, digital workflows, and collaboration for today's more dynamic industrial workforce.
Company: Augmentir, Inc.
Raised: Undisclosed
Round: Unknown
Funding Month: April 2023
Lead Investors: Gardner Lewis Asset Management
Additional Investors: Lerer Hippeau, Pritzker Group Venture Capital, and the Company's founding team
Company Website: https://www.augmentir.com/
Software Category: AI-based Connected Worker Software
About the Company: Augmentir is a company that provides the world's only AI-based connected worker software. Augmentir's software includes a complete suite of connected worker capabilities, connectors to business systems, and broad extensibility that enable manufacturers to digitize their frontline operations, reduce onboarding time, and increase workforce productivity. Companies in manufacturing, service, energy, and construction leverage Augmentir's suite of tools to deliver effective skills management, training, digital workflow, and collaboration for today's more dynamic industrial workforce.
Source: https://www.augmentir.com/news/augmentir-announces-new-round-of-funding-and-organizational-growth