MaintainX’s Year in Review: Our Highlights of 2023

It's been a year of monumental growth and innovation at MaintainX, as we took another leap forward in boosting our customers’ operational efficiency.

Throughout 2023, we released unique and powerful functionality, from multi-site asset reporting to data-driven workload scheduling. We also announced a partnership with SAP and shared industry best practices alongside our customers at events across the United States.

In addition to our team more than doubling in size, we exceeded 6,500 customers and now manage more than 2.5 million assets within MaintainX. Thanks to our customers’ incredible feedback, we received more than 500 award badges across G2 and Gartner, including Best Overall CMMS and Leader in Enterprise Asset Management (EAM).

And best of all, we raised $50M in Series C funding earlier this month, which will unlock even greater innovation and support for our customers for years to come.

So, buckle up! Here are the highlights that brought joy to maintenance teams and helped add hours of production capacity for our customers in 2023.

Accelerating growth with new funding and partnerships

Our accomplishments this year would not have been possible without the incredible support of our partners and investors.

Earlier this month, we proudly announced a new funding round, led by Bain Capital Ventures (BCV), with participation from existing investors Bessemer Venture Partners, Amity Ventures, August Capital, and Ridge Ventures.

Reaching a $1 billion company valuation is a true testament to how far we’ve come since MaintainX was founded in 2018. The confidence of our investors has allowed us to grow from a simple work order application to a comprehensive enterprise asset management (EAM) solution in the space of just five years. And for our customers, this $50M will help fund further innovation in our product and support channels.

Another milestone we achieved this year was to become an SAP Silver Partner, and one of only 10 companies worldwide to be selected for SAP.iO’s startup accelerator program. During the five-month New York Foundry program, we worked hand-in-hand with SAP to build an enterprise-ready integration between MaintainX and its market-leading ERP system.

One of the beneficiaries of this integration has been Duracell, which estimates annual savings of $50,000 per site by streamlining parts inventory management. Using MaintainX, the consumer battery giant has been able to serve up-to-date inventory counts from SAP to frontline workers much faster than before. In 2023, this integration helped maximize wrench time for Duracell’s technicians, reduce stock variability, and provide the C Suite with accurate, real-time frontline data.

Driving efficiencies with new workflows and asset management features

Our funding announcement coincided with the launch of two major customer-driven updates to our Enterprise plan.

Resource Planning includes data-driven workload scheduling to help frontline teams better allocate resources, minimize overtime, and get more work done. And Asset Health Insights enables maintenance and reliability leaders to compare downtime across assets and locations, perform root cause analysis, and make smarter budget decisions.

These two features are just the latest in a bonanza of new technology we put into the hands of maintenance teams in 2023.

In October, we released AI-Powered Maintenance Operations, a package of AI-driven functionality helping frontline teams reduce admin work, communicate better, and improve data quality. Using generative AI to digitize SOPs and safety checklists, machine learning to flag anomalies in work order data, and AI-powered voice transcriptions to share information faster in the field, MaintainX customers can now leverage cutting-edge technology to operate more efficiently.

While these updates all unlocked brand new workflows for our customers, we also worked hard to upgrade our core platform and doubled down on the experiences that help teams collaborate, close out work, and meet compliance requirements.

GIF of scanning QR code / bar code on a piece of equipment identifying asset and then creating a work order for that asset within MaintainX

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The release of Work Order Templates in August made it even easier to standardize data capture and record maintenance work properly. And our communication upgrades, like Request Routing, @Mentions, and the new Notification Center, help to ensure that no critical work ever slips through the cracks.

As if that wasn’t enough, 2023 was a huge year for downtime tracking. In addition to the Asset Health reporting dashboards, we made it significantly easier to mark equipment online and offline in MaintainX. By allowing users to update the real-time status of their assets as maintenance requests are submitted and work orders are completed, we’re helping maintenance managers keep more precise downtime records they can use to improve PM plans and reduce costs.

Inspiring digital transformation with customer insights and best practices

We also shared the success stories of our customers in 2023 more than ever before, exhibiting at manufacturing and industrial conferences across the United States and adding to our library of customer case studies.

Partnering with some of our most innovative customers, including Cintas, Univar, Take 5, and Wauseon Machine, we had the opportunity to share MaintainX customers’ stories of digital transformation with the world’s operations and supply chain leaders.

On December 6–the same day we announced our new funding–MaintainX co-founder Nick Haase joined Steve Schock from Cintas on stage at the International Maintenance Conference, in Florida. They shared how MaintainX had improved business outcomes for Cintas by making life easier for its frontline teams.

At the American Manufacturing Excellence Summit in October, Wauseon Machinery joined us on stage, to showcase how MaintainX improved their Overall Equipment Effectiveness (OEE).

And in September, our “Get Your Ducks in a Row” campaign, featuring a human-sized rubber duck, captured the hearts and minds of attendees at FABTECH, in Chicago. The campaign was inspired by our customers, who often use this expression to describe how MaintainX helps them to stay organized and prepared.

One of those customers is Univar–and its maintenance manager Chris Wilcox joined our director of lifecycle and manufacturing solutions, Chris Hutson, at FABTECH to present how MaintainX had empowered Univar’s frontline teams with mobile workflows and real-time equipment data.

We’re growing to help our customers grow, too

MaintainX also grew significantly in headcount throughout 2023, with our team more than doubling in size since the end of last year.

We shipped more new features than ever in 2023, delivering entirely new functionality on a bi-monthly basis and updating our mobile app about four times per month.

Our support and success teams also grew, allowing us to serve customers with more frequent training webinars and the launch of the new MaintainX Academy, which provides detailed training within the MaintainX app. In the past year, we delivered educational webinars on our core product modules, as well as providing open office hours sessions for our customers to ask questions to experts.

Thanks to our Series C funding, our partners, and the incredible relationships we’ve built with our customers, 2024 is already shaping up to be an even bigger and better year at MaintainX.

If you’re not yet a customer and would like to learn about what MaintainX can do for your team, book a demo with us today.