Bain Capital
Assembly Line
Gather AI Raises $17M to Accelerate Growth and Bring Warehouses into the Modern Era with AI-Powered Inventory Monitoring
Gather AI, makers of computer vision and AI-powered warehouse inventory monitoring solutions, announced a $17M Series A-1 led by Bain Capital Ventures with participation from Tribeca Venture Partners, Dundee Venture Capital, Expa, and Bling Capital. The new funding provides a total of $34M raised to date. It will be invested in scaling operations as Gather AI continues to attract customers by solving supply chain issues with richer data and AI.
With the Gather AI solution, AI software enables drones to fly autonomously through warehouses, scanning 15 times faster than traditional means. Additional AI infers bar codes, text, empty locations, and other inventory-related information in the images, automatically comparing them with what’s in the warehouse management system (WMS). The warehouse manager can then view inventory data in real time from a web dashboard. Gather AI customers are seeing an ROI of 3-5x, driven by a 66% reduction in warehouse inventory database errors.
MaintainX Makes Equipment and Regulatory Downtime a Thing of the Past With $50M in New Funding
MaintainX, the leading maintenance and frontline work execution platform, announced $50M in Series C funding led by Bain Capital Ventures (BCV) with participation from existing investors Bessemer Venture Partners, Amity Ventures, August Capital and Ridge Ventures. Other strategic new investors include Jeff Immelt the former CEO of GE, Jeff Lawson the CEO of Twilio, Steve Pagliuca a Senior Advisor to Bain Capital, Rob Bernshteyn the CEO of Coupa Software, Chris Comparato the Chairman and CEO of Toast, and Allison Pickens the former COO of Gainsight. The new capital will accelerate the MaintainX feature roadmap, with additional AI-driven predictive capabilities and data-driven functionality. Following the company’s Series B in June 2021, this investment brings total funding to $104 million while achieving a valuation of $1 billion.