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San Francisco-based announced $50 million in new funding 鈥� including $11 million from a Series A in 2019 鈥� as the company looks to ride its wave of growth after increasing revenue 12x since the pandemic.

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The $39 million Series B round led by , with participation from , , , and , as well as founder and CEO and the company鈥檚 head of strategy, . Founded in 2018, MaintainX has now raised $54 million.

The company has developed a mobile-first platform for industrial and frontline workers to help track maintenance, safety and operations. Its workflow management solution basically attempts to replace the older spreadsheets and clipboards in use at many factories and industrial facilities with digital tools to keep equipment running and an estimated 2.7 billion deskless workforce safe, said co-founder and CEO .

鈥淭his is a critical space,鈥� Turlica said. 鈥淚f you get something wrong someone can die.鈥�

New money, new market

Aside from revenue growth, MaintainX also increased its customer base 6x since early last year, Turlica said. The company will use the new capital to push that growth as it looks to add to its 43-person staff, increase sales and marketing, and work on its platform.

While MaintainX replaces a lot of pens and paper, it also competes with solutions from and that helped launch the computerized maintenance management system sector, as well as startups like Los Angeles-based .

The company was not looking to raise a Series B, but had been in contact with Bessemer for years and an investment 鈥渇elt timely鈥� after growing last year, Turlica said.

at Bessemer called the space 鈥渆xtremely nascent,鈥� but added it’s a 鈥渒iller app segment鈥� that is growing as it is still being defined.

鈥淚t鈥檚 an evolving market,鈥� he said. 鈥淵ou can鈥檛 just point and say we are disrupting this specific sector.鈥�

Nevertheless, he added he believes that market evolution will build large companies.

鈥淲e are definitely betting this could be a multibillion company,鈥� he said.

Illustration: .