NASHUA, N.H.--(BUSINESS WIRE)--Datanomix, leading vendor of production intelligence software for industrial manufacturers, today announced it has raised $6M in Series A funding. The round was co-led by Bob Davoli, Founder and Managing Director at Gutbrain Ventures and Bruce Clarke, Managing Partner of PBJ Capital with participation from Mike Wohl, Chief Investment Officer at CEAS Investments, and support from existing investors. Previous investors include Argon Ventures, York IE, Wasabi Ventures, Alumni Venture Group, and Millworks Fund, for a total of $9M to date for the company. Davoli will also be joining the Datanomix board.
“We are well positioned and pleased with the speed at which the round came together,” said John Joseph, CEO and Co-founder of Datanomix. “It quickly became apparent that the round would be oversubscribed, a validation of our differentiated value proposition in a rapidly growing data analytics sector with excellent customer growth metrics in 2020. We placed some big bets on the product offering and they paid off nicely. Customer conversion from first meeting to purchase has been remarkable. The new funding will be used to expand the company in sales, marketing, customer success, and engineering areas.”
American manufacturing is undergoing a resurgence in the United States and business owners are looking to modernize their factories to speed up operations by integrating technology into the production environment. With dozens of new customers turning to Datanomix this past year, the software company has consistently doubled its business every quarter.
“We deeply appreciate our customers who worked with us, adopting the technology early on, and seeing the power of production intelligence,” said Joseph. “Growing our footprint in our customers’ factories by making their employees more effective in their performance is always our goal. The proof points are in their testimonials.”
Datanomix Fusion is the industry's first hands-free, plug-and-play production and operations monitoring solution. It requires no operator input, and automatically benchmarks and scores production using only data from manufacturing equipment itself. The turnkey intelligence platform simplifies factory performance so teams can focus on productivity and profitability while the Datanomix solution provides continuous insights through real-time TV scoreboards, one-click reports, and true job cost analysis.
“The application of modern software technology to traditional manufacturing and industrial practices is revolutionizing how manufacturers think about the value of data,” stated Bob Davoli. “With Datanomix, the combination of their highly differentiated approach to manufacturing analytics paired with their exceptionally strong team compelled us to invest. Our conversations with their customers were a clear indication they have built an impactful product with very loyal followers. I am happy to be joining them on their quest to help modernize manufacturing.”
Getting real-time data about factory performance that is both easy to consume, and in a context that matters to the business, is a must have in 2021 and beyond. “Our factories needed to keep pace with technology,” said Kevin Welch, GM at EPTAM Precision-Plastics. “Datanomix changed the way we operate. Going forward, we are armed with the knowledge we need to accelerate, amplify, and adjust to our changing customer demands, and we're a better organization for it.”
“Factories need insights, and they need them at the speed of business,” said Greg McHale, Co-Founder and CTO of Datanomix. “Our Production Monitoring and Digital GEMBA products are designed to make wasted man hours and lost profit opportunities a thing of the past with clear data indicators that change how everyone thinks about their production environment. We are just starting to scratch the surface of what is possible with our technology, and we’re already having a significant impact on how production environments are managed and measured.”
Based in New Hampshire, Datanomix is fueling the fourth industrial revolution, or Industry 4.0, with data analytics made simple for industrial manufacturers. Learn more at www.datanomix.io.