SaaS Company that Provides Machine Performance Analytics Oversubscribes Funding Round
CHARLOTTE, N.C. - illiNews -- Automation Intellect, a SaaS company that provides machine performance analytics to manufacturing companies, announced it has raised a funding round led by StartFast out of Syracuse, NY.
"We are excited to see the investment community's strong validation of Automation Intellect and we are proud to lead their round," said Chuck Stormon of StartFast.
Automation Intellect, headquartered in Charlotte, N.C. oversubscribed the funding round by 30%. The round was accelerated after the company closed a Master Services Agreement with a global manufacturing leader in the field of automotive filtration.
"Manufacturers must adopt transformative technology in order to remain globally competitive," said David Gardner of Cofounders Capital, another major investor in the round. "With Automation Intellect, we see a company bringing innovative solutions that deliver real results with the quickest time to value in the market."
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The funding will enable the company to leverage their early success, drive adoption at a faster pace and scale to meet the expansive need in the market.
"With the support of our strategic investors, we'll be accelerating the development of our product and supporting our growing customer base," said Brad DeMarco, CEO of Automation Intellect. "This is an amazing accomplishment for our team, and we really appreciate the support from all of the investors that made this happen."
About Automation Intellect:
Automation Intellect is a cloud based SaaS company that provides a machine performance analytics platform for manufacturing companies. The platform collects and monitors machine data, providing companies with valuable insights that improve machine performance. Headquartered in Charlotte, N.C., Automation Intellect was founded in 2016 by Brad DeMarco, Kurt Lueck and Bruce Wilkinson.
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About StartFast:
StartFast is an early-stage venture firm that each year screens over 10,000 software and IoT companies from across the globe before selecting 5 to invest in. Those companies receive an initial investment and work with StartFast's management team to identify product-market fit and develop scalable sales models. Founders are also given the opportunity to connect to a network of world-class entrepreneurs, investors, corporate executives, and subject matter experts to help take their company to the next level.
"We are excited to see the investment community's strong validation of Automation Intellect and we are proud to lead their round," said Chuck Stormon of StartFast.
Automation Intellect, headquartered in Charlotte, N.C. oversubscribed the funding round by 30%. The round was accelerated after the company closed a Master Services Agreement with a global manufacturing leader in the field of automotive filtration.
"Manufacturers must adopt transformative technology in order to remain globally competitive," said David Gardner of Cofounders Capital, another major investor in the round. "With Automation Intellect, we see a company bringing innovative solutions that deliver real results with the quickest time to value in the market."
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The funding will enable the company to leverage their early success, drive adoption at a faster pace and scale to meet the expansive need in the market.
"With the support of our strategic investors, we'll be accelerating the development of our product and supporting our growing customer base," said Brad DeMarco, CEO of Automation Intellect. "This is an amazing accomplishment for our team, and we really appreciate the support from all of the investors that made this happen."
About Automation Intellect:
Automation Intellect is a cloud based SaaS company that provides a machine performance analytics platform for manufacturing companies. The platform collects and monitors machine data, providing companies with valuable insights that improve machine performance. Headquartered in Charlotte, N.C., Automation Intellect was founded in 2016 by Brad DeMarco, Kurt Lueck and Bruce Wilkinson.
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About StartFast:
StartFast is an early-stage venture firm that each year screens over 10,000 software and IoT companies from across the globe before selecting 5 to invest in. Those companies receive an initial investment and work with StartFast's management team to identify product-market fit and develop scalable sales models. Founders are also given the opportunity to connect to a network of world-class entrepreneurs, investors, corporate executives, and subject matter experts to help take their company to the next level.
Source: Automation Intellect
Filed Under: Technology, Manufacturing
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