LEH, Utah, June 22, 2023 — With the announcement of a USD 58 million Series B fundraising round headed by the Growth Equity division of Goldman Sachs Asset Management (Goldman Sachs), Limble, the industry’s top provider of modern computerized maintenance management systems (CMMS), has raised the company’s valuation to $450M. The cash will broaden Limble’s product offering, enhance its robust and user-friendly interface for asset management and monitoring, and quicken its go-to-market plan.
The $5.2 billion growth equity fund, newly formed by Goldman Sachs and devoted to investing in high-growth companies with reliable business models, is where the investment came from.
John Connolly, senior advisor to the Growth Equity unit within Goldman Sachs Asset Management and a five-time CEO, was also announced by the company as joining Limble’s Board of Directors to guide the business’s upcoming growth stage. He will work alongside Jeremiah Daly, Elephant’s founder and general partner, and Lars Letonoff, the former CRO of KnowBe4, the world’s most significant security awareness training and simulated phishing platform. In connection with this investment, Brendon Hardin from Goldman Sachs’ Growth Equity division will also join the board.
“The success of Limble can truly be credited to a deep understanding of the specific challenges that face maintenance and facility managers and the design of a powerful yet streamlined system to solve those problems,” stated Bryan Christiansen, CEO and founder of Limble. “We set out to empower the maintenance professionals—the unsung heroes—who keep the world running, and we have more than lived up to that promise, generating cost savings in the hundreds of millions of dollars through decreased reactive maintenance, greater productivity, reduced downtime, and decreased part expenditure. With this infusion of expansion money from Goldman Sachs, we are ready to expand the reach of our revolutionary CMMS solution to businesses worldwide.
Brendon Hardin stated, “CMMS is essential to managing maintenance operations, but the market has historically been filled with overly complex, burdensome tools.” With an intuitive, user-friendly, and contemporary CMMS that simplifies even the most significant operations and is quick to implement, Limble has disrupted this market. Customers experience ROI in a matter of weeks. We are convinced that Limble’s market penetration can increase enormously in the upcoming months and years because the product has already demonstrated its worth to thousands of consumers worldwide.
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, Limble, the industry's top provider of modern computerized maintenance management systems (CMMS), has raised the company's valuation to $450M. The cash will broaden Limble's product offering, enhance its robust and user-friendly interface for asset management and monitoring, and quicken its go-to-market plan.){kind=link}