Fiix Software has closed a US $12 million Series B round of financing led by BuildGroup, an Austin, Texas based private investment firm. BuildGroup led a $5 million Series A in Fiix, formerly known as Maintenance Assistant Inc in March 2016.
Toronto based Fiix is a maintenance and asset management software provider. The company’s software helps businesses implement preventive maintenance strategies to help increase production and decrease unplanned downtime—essential factors for North American manufacturers to remain competitive in the face of globalization.
photo credit: Fiix Software
Fiix Secures $12 Million Series B Funding to Help Blue-Collar Industries Drive Productivity through Digitization
Toronto, Canada—May 22, 2018—Fiix announced today that it has raised $12 million (USD) to bring maintenance teams from pen-and-paper systems to software solutions, helping to drive productivity gains in traditional blue-collar industries. This latest investment follows two years of exponential growth and is again being led by BuildGroup, an Austin-based private investment firm that led Fiix’s Series A in 2016.
Fiix, formerly Maintenance Assistant, is a maintenance and asset management software provider. The company was one of the first entrants in the SaaS-based maintenance software space and has been strategically positioned from the start to capitalize on unique greenfield opportunities in the maintenance and asset management market. Over the past few years, Fiix has seen demand for its user-friendly computerized maintenance management system (CMMS) skyrocket as more organizations move from pen and paper to digital systems. The company’s software helps businesses implement preventive maintenance strategies to help increase production and decrease unplanned downtime—essential factors for North American manufacturers to remain competitive in the face of globalization.
“Pen and paper and legacy maintenance systems aren’t cutting it anymore. Productivity demands and cost reduction measures are higher than ever, and the only way to get and stay on top of these demands is to move to software. Fiix partners with maintenance teams to help make digitization a reality for their organizations,” said Marc Castel, co-founder and CEO of Fiix. “Our ultimate goal is to get maintenance software into the hands of every maintenance team, and this investment will be used to continue scaling our people and systems to achieve that goal.”
Fiix now works with more than 20,000 users in 90 countries and has helped customers in manufacturing, wholesale trade, construction, and transportation and warehousing significantly decrease maintenance costs.
Ardagh Group—one of the world’s largest glass and metal packaging companies—achieved a more unified approach to maintenance across multiple sites, resulting in a 10-15 percent drop in maintenance costs after implementing Fiix’s software solution.
“Before Fiix, we had seven different plants that looked like seven different companies—there was no uniformity,” said Tony Leombruno, Total Productive Maintenance Champion at Ardagh Group. “So implementing the system was about standardization and optimization, so everybody could look at, and talk about, maintenance the same way. For me, the foundation of a world-class maintenance organization is a CMMS.”
CraftMark Bakery, which supplies frozen bakery products to some of the largest restaurants in North America, turned to Fiix for a modern and easy to use maintenance solution that could track and manage spare parts, while tightly integrating with the other software solutions deployed at their state-of-the-art 225 thousand square foot facility.
“It was essential for us to implement a system that worked with our existing technology—specifically NetSuite,” said Tim Ward, CIO at CraftMark Bakery. “We’re a highly automated facility and it was vital for our maintenance team to be able to view, consume and order spare parts in real time while ensuring that NetSuite is always in sync. In addition, it was critical that NetSuite’s controls and workflows remained intact across the organization. Our facility is expanding to 350,000 square feet within a few months, and implementing Fiix has been a big part of streamlining our processes and getting our systems and technology connected to support our rapid growth.”
“We are thrilled to help Fiix continue to drive growth,” said Lanham Napier, co-founder of BuildGroup. “Maintenance and asset management software is now a requirement for firms to remain competitive globally. Fiix has focused not only on developing a solution that solves real business challenges for its customers, but also on supporting customers through the process of digitization, which thereby ensures their success.”
Fiix Inc. creates easy-to-use, intelligent maintenance management software that empowers businesses to organize their maintenance departments and turn data into actionable insights. Its innovative multi-tenant cloud-based CMMS mobilizes the maintenance workforce with an unparalleled mobile experience and seamlessly interfaces with enterprise software to connect your entire organization—revolutionizing how thousands of companies worldwide schedule, organize, and track maintenance.
Learn more at www.fiixsoftware.com.
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
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