UpKeep – Fully Mobile CMMS Raises $10M

UpKeep, a fully mobile maintenance management software, added just an year ago to our list of portfolio startups has shown amazing growth in a short span of time and has successfully raised $10M funding in Series A round led by Emergence Capital. Well done UpKeep!

UpKeep, which helps technicians create and track work orders, raised a $10 million Series A round led by Emergence Capital on Tuesday. The company also counts Bain Capital, Battery Ventures and Y Combinator as investors.

The company’s high rate of organic adoption is a testament to that competitive edge. UpKeep doesn’t have a marketing budget and the application has been free on the App Store since its inception. The majority of its clients, like Unilever, sought out deals with UpKeep after their workers downloaded and began using the product themselves. That has led to a user base of 50,000 workers across 1,000 businesses, including other major companies like Marriott, Jet.com and McDonald’s. The premium model used by these companies allows employees to collaborate and management to deploy advanced analytics and reporting features.

UpKeep reports that its customers experience as much as a 90% reduction in the time it takes to complete maintenance jobs. Chan, who landed on this year’s Forbes 30 Under 30 Manufacturing & Industry list, attributes this to the fact that the easy-to-use system is more likely to be adopted and continually used by workers.

The most recent fundraising round has brought the company’s total funding to almost $13 million. In addition to enabling new iterations of the software, Chan hopes to build a collaborative platform for workers to troubleshoot maintenance problems. “We really want to build a community around maintenance,” says Chan. “We have this fragmented industry where they aren’t as online and learning from each other as other industries…. We want to help support those conversations.”

Please read full story at Forbes.

Eight – Smart Sleep Products Company Raises Another $14M

Almost an year ago, we announced about $5M funding raised by our portfolio startup, Eight in Series A round. And we are very excited to share that Eight, a smart sleep products manufacturing company has also raised another $14M in Series B funding round led by Khosla Ventures in participation with existing investors Yunqi Partners and YCombinator.

“The partnership with Khosla is a clear fit for us. They share our vision of a future in which technology and data make healthcare more scientific and consistent. With this new funding, our growing team and investors reaffirm the commitment we made in 2014 to bringing the biggest technological evolution that sleep has seen in the last 300 years.”, said Matteo Franceschetti Co-founder and CEO, Eight.

“Thanks to over 20,000 of you, we are on a path to become the largest sleep database in the world. In addition to tracking over 2.5 million nights of sleep, we have also collected and processed 500 terabytes of data, executed over 200,000 sleep-related smart home actions, and warmed up beds for over 1 million hours.” added Matteo Franceschetti.

Please read full story at Eight.