Announcing our $31M Series B, led by BlackRock and Temasek’s Decarbonization Partners fund
We’re thrilled to announce that Guidewheel has secured $31M in Series B funding, led by BlackRock and Temasek’s Decarbonization Partners fund. Rethink Impact, and GSBackers also participated in this round, alongside existing investors Greycroft and Breakthrough Energy Ventures (BEV), among others.
We’re grateful to have these incredible leaders as our investors and partners. Together we’re building AI-powered FactoryOps to equip the world’s manufacturers to reach sustainable peak performance.
Looking back
We started Guidewheel because we saw first-hand how difficult it was for manufacturers to improve the performance of their operations without visibility into what was happening with machines on the factory floor. The best machine monitoring solutions available at the time cost millions of dollars, took months or years to get up and running, and worked only on a subset of machines, providing only a partial view of operations. We thought there had to be a better way. We set out to build a solution that could be up and running in hours, would work on all machines, and would pay for itself in the first few months. This approach resonated, and today hundreds of manufacturers use Guidewheel, and growing quickly.
Since our founding, Guidewheel has been focused on driving value for manufacturers and the hard working people who make them run. With the help of the amazing customers who placed their trust in us, we’ve come a long way. We evolved from an energy tracking system in the early days, to a system that enables every manufacturing team member to track performance in real-time so they can take action to improve the bottom line. On top of our core platform, we introduced Scout, an AI-powered predictive maintenance solution that has saved our customers hundreds of thousands of dollars by preventing downtime and machine failure. We’ve seen industry-leading customers like Coca-Cola FEMSA, Igloo, Kimberly Clark, Berry Global, and Myers Industries extend Guidewheel across their operations. And most importantly, we’ve heard loud and clear from the manufacturers we work with that we’re on the right track.
In a call a few weeks ago with a Plant Manager, he joked that “if I had to tell my team we were getting rid of Guidewheel, I’d be voted off the island.” He mentioned it in passing but it struck a chord. Driving change across the plant floor team is hard and is the reason that many software projects fail. Overcoming this challenge with a system that teams actually want to use because it helps them win – that’s the most important milestone we’ve achieved to date.
What comes next
Our customers mean the world to us and we want to take this opportunity to express a heartfelt thank you for your trust and partnership. We are committed to helping your teams to win and your businesses to thrive.
This new round of funding isn’t just fuel for Guidewheel’s growth, it’s an investment in making every manufacturer more sustainable and more profitable. We feel lucky to be on this journey with our amazing customers and partners, and look forward to sharing many more exciting milestones in the future. If you’re passionate about our mission and would like to try Guidewheel or join our team, please reach out.