NEWS COMMENTARY

Augury partners with investor HSB to offer $100,000 warranty for its predictive maintenance solution

Published:
June 17, 2020
Coverage:
Digital Transformation More...
Topics:
Activities:
Partnership
Very important

Although the duo have worked in the past on sharing PdM data, this new agreement mirrors the partnership HSB had with Relayr, a PdM startup it subsequently acquired. As part of the agreement, Augury's customers will receive up to $100,000 if its solution fails to pick up any defects that led to equipment downtime. Although the nuances of the reinsurance plan, such as the specific industries and equipment it covers, are undisclosed, the partnership is indicative of a crowded PdM landscape where startups are inclining toward business model innovations to gain differentiation. While clients should investigate the underlying elements of this plan before engaging, it does exhibit strong confidence on the duo's end in Augury's PdM solution.

For the original news article, click here .


Further Reading

AutoML company DataRobot packs on $206 million Series E led by Sapphire Ventures to help fuel growth and acquisitions

News Commentary | September 19, 2019

In its press release, DataRobot (Lux Take: Engage) highlighted that it has generated triple‑digit annual recurring revenue growth every year since 2015, with adoption from a third of Fortune 50 companies. With this round of funding, the company will look to secure its spot as the top AutoML platform... Not part of subscription

BackboneAI launches intercompany data automation platform for supply chain industry visibility

News Commentary | June 24, 2020

BackboneAI's platform automates the acquisition and normalization of third‑party supplier data into existing systems like ERP and WMS. The platform also provides machine learning‑based data quality assessments and compliance checks. Backbone considers poor data integration one of the primary reasons... Not part of subscription

Augury raises $55 million in Series D funding to grow its predictive maintenance platform

News Commentary | November 17, 2020

Augury (Lux Take: Positive) plans to use the funding for new hires, R&D efforts, and customer acquisition; it has already spent some of it to hire a big‑name COO. Since June 2020, Augury has partnered with one of its investors, HSB (Munich Re) to offer $100,000 in warranty for its predictive ... Not part of subscription