Toronto-based Fiix has raised a $15.4 million ($12 million USD) Series B for its workflow software that helps companies manage equipment and assets. The funding was led by BuildGroup.
“We are thrilled to help Fiix continue to drive growth,” said Lanham Napier, co-founder of BuildGroup. “Maintenance and asset management software is now a requirement for firms to remain competitive globally. Fiix has focused not only on developing a solution that solves real business challenges for its customers, but also on supporting customers through the process of digitization, which thereby ensures their success.”
“Pen and paper and legacy maintenance systems aren’t cutting it anymore. Productivity demands and cost reduction measures are higher than ever.”
Fiix offers a maintenance and asset management software, which allows users to manage work orders, assets, and inventories through a single platform. The goal is to help businesses implement preventative maintenance strategies to increase production.
Fiix said it currently works with over 20,000 users in the manufacturing, wholesale trade, construction, and transportation industries. The company plans to use the funding to continue scaling its team and software system.
“Pen and paper and legacy maintenance systems aren’t cutting it anymore. Productivity demands and cost reduction measures are higher than ever, and the only way to get and stay on top of these demands is to move to software,” said Marc Castel, co-founder and CEO of Fiix. “Fiix partners with maintenance teams to help make digitization a reality for their organizations. Our ultimate goal is to get maintenance software into the hands of every maintenance team, and this investment will be used to continue scaling our people and systems to achieve that goal.”
One company that Fiix has worked with is CraftMark Bakery, which supplies frozen bakery products to North American restaurants. Craft Bakery said Fiix’s software allowed the company to track and manage spare parts.
“We’re a highly automated facility and it was vital for our maintenance team to be able to view, consume, and order spare parts in real time,” said Tim Ward, CIO at CraftMark Bakery. “Implementing Fiix has been a big part of streamlining our processes and getting our systems and technology connected to support our rapid growth.”
The company was formerly known as Maintenance Assistant, and announced a $5 million Series A in March 2016.