Augury Company Profile

Background

Founded: 2011
Headquarters: New York City, New York, USA
Industry: Artificial Intelligence (AI), Industrial Automation
Mission: To build a world where people can always rely on the machines that matter by providing superior insights into the health and performance of industrial equipment.

Augury specializes in AI-driven solutions that monitor machine health and process efficiency, aiming to transform industrial operations by reducing downtime, improving process efficiency, maximizing yield, and minimizing waste and emissions.

Key Strategic Focus

Augury's strategic focus centers on delivering comprehensive Machine Health and Process Health solutions. By leveraging purpose-built AI trained by industry experts and extensive data libraries, the company provides actionable insights that help manufacturers eliminate production downtime, enhance process efficiency, and achieve significant returns on investment (ROI). Augury's solutions are tailored for various industries, including manufacturing, energy, and utilities, addressing the critical need for reliable and efficient machinery.

Financials and Funding

As of February 2025, Augury has raised a total of $369 million across multiple funding rounds, with a valuation exceeding $1 billion. The most recent Series F funding round in February 2025 secured $75 million, led by Lightrock. Previous significant funding includes a $180 million Series E round in October 2021, led by Baker Hughes, and a $55 million Series D round in October 2020, led by Qumra Capital. Notable investors encompass Insight Partners, Eclipse Ventures, Qumra Capital, Qualcomm Ventures, the HSB Fund of Munich Re Ventures, and Lerer Hippeau.

Pipeline Development

Augury's product offerings include Machine Health solutions for Critical Assets (MH CR) and Supporting Equipment (MH SE). These solutions utilize wireless sensors to monitor vibration, temperature, and magnetic data, which are analyzed by AI to predict potential failures and provide early, actionable insights. In May 2022, Augury expanded its capabilities by acquiring Seebo, a company specializing in predictive quality and yield solutions, thereby enhancing its Process Health offerings.

Technological Platform and Innovation

Augury's technological platform integrates Internet of Things (IoT) devices with advanced AI algorithms to deliver predictive maintenance solutions. Key components include:

Wireless Sensors: Devices that capture real-time data on machine vibrations, temperature, and magnetic fields.

AI-Driven Analytics: Proprietary algorithms analyze sensor data to detect anomalies, predict failures, and recommend maintenance actions.

Cloud-Based Platform: Enables remote monitoring and diagnostics, providing users with accessible and actionable insights.

This combination allows for early detection of mechanical issues, reducing unplanned downtime and maintenance costs.

Leadership Team

Saar Yoskovitz: Co-Founder and CEO. Prior to Augury, he served as an Analog Architect at Intel.

Gal Shaul: Co-Founder and Chief Product and Technology Officer (CPTO). Formerly a Software Engineer at Endymed Medical.

Roy Eitan: Chief Operating Officer (COO). Previously Head of Business Process Excellence at HP.

Dvori Ben Basat: Chief Financial Officer (CFO). Former CFO at Seebo.

Brian Fitzgerald: Chief Revenue Officer (CRO). Former Chief Marketing Officer at Veracode.

Leadership Changes

In May 2022, Augury acquired Seebo, leading to the integration of Seebo's leadership into Augury's executive team. Dvori Ben Basat, formerly CFO at Seebo, assumed the role of CFO at Augury.

Competitor Profile

Market Insights and Dynamics

The industrial AI and predictive maintenance market is experiencing significant growth, driven by the increasing adoption of Industry 4.0 technologies. Manufacturers are investing in AI-driven solutions to enhance operational efficiency, reduce downtime, and improve product quality. The market is characterized by rapid technological advancements and a competitive landscape with several key players.

Competitor Analysis

Augury faces competition from companies offering similar predictive maintenance and machine health solutions. Notable competitors include:

Datadog: Provides monitoring and analytics for developers, IT operations teams, and business users.

Limble CMMS: Offers computerized maintenance management system software for asset management.

Particle: Delivers IoT platforms for connecting devices to the internet.

eMaint CMMS: Provides maintenance management software solutions.

Fracttal One: Offers cloud-based maintenance management software.

Fiix: Provides CMMS software for maintenance teams.

Portainer: Offers container management solutions.

Strategic Collaborations and Partnerships

Augury has established significant partnerships to enhance its market position and technological capabilities:

Baker Hughes: In October 2021, Augury partnered with Baker Hughes, integrating its Machine Health solutions into Baker Hughes' System 1 software and asset performance management solutions.

SE Ventures: The corporate venture arm of Schneider Electric invested in Augury, supporting its expansion into new industries such as energy.

PTC: In July 2020, Augury's Machine Health Solutions were integrated with PTC’s ThingWorx IoT platform, making them available in the PTC Marketplace.

DSV: In March 2024, Augury partnered with DSV, a logistics solutions provider, to introduce a new Parts As a Service (PaaS) solution, utilizing machine health to predict faults and automate the procurement of replacement parts.

Operational Insights

Augury's strategic partnerships and technological innovations position it as a leader in the industrial AI sector. Its focus on delivering tangible ROI through predictive maintenance solutions provides a competitive edge. The company's ability to integrate with existing systems and its commitment to continuous improvement through acquisitions and partnerships enhance its market position.

Strategic Opportunities and Future Directions

Augury plans to utilize its recent funding to expand globally, innovate within its core manufacturing market, and enter new industries such as energy. The company aims to accelerate the digital transformation and decarbonization of energy by providing Machine Health solutions to the energy generation and transmission sectors.