Instrumental Sees 2X Growth After US$20 Million Series B Accelerates Development of Category-Defining Manufacturing Optimization Platform
Subscribe To Read This InsightBy Ryan Martin | 1Q 2021 | IN-6078
US$30 Million Total Funding to Date |
NEWS |
Instrumental secured US$20 million in Series B financing in the middle of 2020 to accelerate development of its manufacturing optimization platform (see the ABI Insight “Manufacturing Optimization Systems for the Postmodern COVID-19 Era”). Since then, the company has built new software features and achieved a twofold increase in customers, revenue, and headcount.
The primary market focus is discrete manufacturing, and more specifically electronics, apparel, medical devices, and appliances—verticals defined by complex assembly and the need for more automated root cause analysis. Reference customers include Bose, Cisco, and Honeywell, in addition to contract manufacturers such as Pegatron, Goertek, Foxconn, Flex, AQS, Quanta Computer, and Transtek. Instrumental has also supported Motorola since the end of 2017...
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