Instrumental Closes $50 Million Series C to Accelerate Manufacturing Optimization Innovation

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By Ryan Martin | 1Q 2022 | IN-6470

 

More Than US$80 Million Total Funds Rasied

NEWS


Manufacturing optimization software provider Instrumental closed US$50 million in Series C financing in February 2022 to expand research and development for new products and make critical hires in engineering and go-to-market teams. The company builds core manufacturing data infrastructure for leading electronics brands such as Cisco, Honeywell, Foxconn, and Flex for both New Product Introduction (NPI) and manufacturing production applications. These brands use Instrumental’s cloud-based Artificial Intelligence (AI) software to perform quality control remotely without the need to be on site. The growing appetite and demand for this new category of solutions is evidenced in the 3x bookings growth and 150% net revenue retention it saw in 2021.

The Manufacturing Optimization Ecosystem

IMPACT


The Manufacturing Optimization Ecosystem exists between slow-moving and expensive one-time human audits and rapid real-time business intelligence tools. It encompasses many industries and verticals to address the different problems t…

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