Augmentir Announces New Round of Funding and Organizational Growth

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Apr 18, 2023, 10:05 ET

Augmentir announces its latest funding round and continued organizational growth to help power the future manufacturing workforce with AI.

HORSHAM, Pa., April 18, 2023 /PRNewswire/ -- Augmentir, provider of the world's only AI-based connected worker solution, announced today that it has completed a new financing round and is expanding its team to support the company's accelerating growth.

Augmentir is known for its one-of-a-kind, industry-leading connected worker technology, that harnesses the power of AI to digitize and optimize frontline work based on worker capability and task complexity. This technology adds precision to workforce development by helping manufacturers identify opportunities to improve training and optimize upskilling and reskilling programs. In February, Augmentir announced that it expanded its AI platform to incorporate Generative AI and other foundational technologies underpinning ChatGPT. This addition represents another step forward in the company's AI-first journey, and unlocks even greater potential for manufacturers looking to improve support for their frontline workforce.

The new financing round, led by Gardner Lewis Asset Management, includes participation from Lerer Hippeau, Pritzker Group Venture Capital, and the Company's founding team. The investment will be used to expand Augmentir's global sales and marketing efforts while accelerating product development and innovation.

"We're thrilled to be able to raise capital at a significant increase in Augmentir's valuation, at a time when peers are struggling in the market," said Russ Fadel, CEO of Augmentir. "Our exponential growth is a result of our commanding AI-based competitive advantage, and has given us a leadership position in the Connected Worker space."

In addition to the funding news, Augmentir has also announced organizational growth, including two new additions to the Company's leadership team. Kiyomi Otani joins the team as Vice President of Operations bringing with her two decades of experience in technology leadership. Carsten Hunfeld, who previously led Augmentir's sales efforts in the DACH region, will become the Company's Director for EMEA, as the Company ramps up its efforts in that region. Augmentir experienced an employee growth rate of over 50% in the last twelve months to advance its mission of empowering frontline workers with next-generation software solutions.

Augmentir's suite of AI-powered connected worker tools helps industrial companies deliver effective, individualized skills management, training, digital workflows, and collaboration for today's more dynamic industrial workforce. These capabilities, built on top of Augmentir's patented "Smart" AI foundation, close the loop between training and work execution to deliver the data and in-line insights necessary to continuously improve operational excellence day-over-day, year-over-year.

About Augmentir

Augmentir™ is the world's only Smart Connected Worker solution. Augmentir's software includes a complete suite of connected worker capabilities, connectors to business systems, and broad extensibility that enable manufacturers to digitize their frontline operations, reduce onboarding time, and increase workforce productivity. Companies in manufacturing, service, energy, and construction leverage Augmentir's suite of tools to deliver effective skills management, training, digital workflow, and collaboration for today's more dynamic industrial workforce. For more information, please visit www.augmentir.com.

SOURCE Augmentir, Inc.