Start driving decisions with machine data.
Categories:

    Long River Ventures leads the round

    Northampton, Massachusetts (PRWEB) June 29, 2015

    MachineMetrics, Inc. announced today it has secured capital in an early investment round. This initial round was led by Long River Ventures, a Massachusetts early stage venture capital fund, and includes additional funding from local, private investors.

     

    The company, led by successful software entrepreneur William Bither, develops production monitoring software for the manufacturing industry. MachineMetrics sought funding after their first year of operation, fueled by participation in the Valley Venture Mentors Accelerator program.

    MachineMetrics was developed to address the need for manufacturing companies to  and gain greater visibility into their production processes. The funding will help MachineMetrics further accelerate its rapid development and growth trajectory. Manufacturing customers are facing increasing pressure to be more productive. Until MachineMetrics, there has not been an effective and easy to use system to make sense of the data available from many modern machine tools and manufacturing systems. MachineMetrics expects to deliver tremendous value not only to manufacturers in Massachusetts and across the United States, but globally.

    Initial customers include VSS, Inc. in Greenfield, Massachusetts, a precision machine shop with over 40 years in business. VSS owner Steve Capshaw says that utilizing MachineMetrics will save his company over $1 million in capital expenditures during the next 3 years and allow a production increase of 20% based on increased efficiency.

    MachineMetrics CEO Bill Bither said, “This funding will accelerate our momentum and help us support our growing customer base of small to mid-sized manufacturers, helping them deliver on-time products with better efficiency.”

    The team has doubled in size since the funding and plans to remain in Northampton, Massachusetts. Terms of the investment have not been disclosed.

    Tripp Peake, General Partner of Long River Ventures, said, “As a firm we are particularly focused on enterprise software. We have admired the MachineMetrics team for a while and have been impressed with the urgency of the problem they’re solving. We’re excited to participate in a software company addressing the world’s largest installed base of connected devices—manufacturing equipment.”

    About MachineMetrics, Inc. 
    MachineMetrics, Inc. develops real-time production monitoring software for manufacturing companies. Headquartered in Northampton, Massachusetts, the company was founded by William Bither, Eric Fogg, and Jacob Lauzier in 2014. More information can be found on the company’s website, http://www.machinemetrics.com.

    About Long River Ventures 
    Long River Ventures invests in early growth stage IT and healthcare companies throughout the northeast United States. Formed by a group of experienced entrepreneurs and venture capitalists, Long River is designed and structured to invest smaller amounts of capital with typical initial investments of $500,000 to $1 million. Long River Ventures has offices in Boston and Amherst, Massachusetts and is currently investing from its third fund. For more information, visit the Long River website http://www.longriverventures.com

    Comments

    Leave a comment

    Subscribe to our mailing list

    Related posts

    MachineMetrics Announces Launch of Industrial IoT Partner Ecosystem

    MachineMetrics Announces Launch of Industrial IoT Partner Ecosystem

    Collaboration with Industry Leaders to Drive Value for Discrete Manufacturers BOSTON—MachineMetrics, provider of manufacturing’s first Industrial IoT Platform for machines, today announced the formati...

    MachineMetrics
    Embracing Cultural Change, a Vital Part of Digital Transformation

    Embracing Cultural Change, a Vital Part of Digital Transformation

    Manufacturing is shifting into the digital age, and it’s not only the technologies that are experiencing a transformation. Shifting from siloed and hierarchy-driven business practices to data-driven d...

    MachineMetrics
    How to Avoid Being the

    How to Avoid Being the "Blockbuster" of Manufacturing

    Industries change generally for a few specific reasons: new technologies arise that present better solutions to people’s problems, people change in a way that presents new problems that require better...

    MachineMetrics
    Four Considerations for Manufacturing with the Industrial Internet of Things

    Four Considerations for Manufacturing with the Industrial Internet of Things

    With global spending on IIoT expected to reach $745 billion in 2019, industries continue to gear up for Industry 4.0.  According to International Data Group (IDC), that number represents an increase o...

    MachineMetrics
    Managing the Risks of Digital Transformation

    Managing the Risks of Digital Transformation

    Digital transformation is a disruptive process that often throws companies into uncharted territory for their business.  Many organizations have plunged headlong into the process and are ahead of the ...

    MachineMetrics
    MachineMetrics Becomes One of the First Partners to Achieve AWS Industrial Software Competency Status

    MachineMetrics Becomes One of the First Partners to Achieve AWS Industrial Software Competency Status

    07/23/2019– MachineMetrics Industrial IoT Platform for discrete manufacturing announced today that it has achieved Amazon Web Services (AWS) Industrial Software Competency status. This designation rec...

    MachineMetrics
    MachineMetrics Awarded “Best AI-Driven Manufacturing Technology Solutions Provider”

    MachineMetrics Awarded “Best AI-Driven Manufacturing Technology Solutions Provider”

    MachineMetrics Recognized for AI-Driven Manufacturing Technology 

    MachineMetrics
    The Unattended Factory and Industrial IoT

    The Unattended Factory and Industrial IoT

    Much has been written about the “hidden capacity” that can be unlocked by Industrial IoT using advancements such as digital twins.  With the success of this technology,  a new report by Grand View Res...

    MachineMetrics