Augmentir, the provider of the world’s only AI-based connected worker solution, announced today that it has closed a new round of funding and is expanding its team to support the company’s accelerated growth.
Augmentir is known for its unique, industry-leading connected worker technology, which harnesses the power of AI to digitize and optimize frontline work based on employee skills and task complexity. This technology adds precision to workforce development by helping manufacturers identify opportunities to improve training and optimize upskilling and retraining programs. In February, Augmentir announced that it has expanded its AI platform to integrate generative AI and other foundational technologies that support ChatGPT. This addition represents another step forward in the company’s journey to AI and unlocks even greater potential for manufacturers looking to improve support for their frontline workers.
The new round of financing, led by Gardner Lewis Asset Management, includes the participation of 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 are very pleased to be able to raise capital on a significant increase in Augmentir’s valuation at a time when competitors in the market are struggling,” said Russ Fadel, CEO of Augmentir. “Our exponential growth is the result of our superior AI-powered 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 executive team. Kiyomi Otani joins the team as Vice President of Operations, bringing with her two decades of technology leadership experience. Carsten Hunfeld, who previously led Augmentir’s sales activities in the DACH region, will become the company’s Director for EMEA as the company ramps up its operations in the region. Augmentir has seen an employee growth rate of over 50% over the past 12 months to advance its mission of empowering frontline workers with next-generation software solutions.
Augmentir’s suite of AI-powered tools for the connected workforce helps industrial companies deliver effective, customized skills management, training, digital workflows and collaboration for today’s more dynamic industrial workers. These capabilities, built on Augmentir’s patented “intelligent” AI foundation, close the loop between training and work execution to deliver the data and inline insights needed to drive operational excellence day after day, year after year to improve continuously.