MentorAPM™, a leading-edge intelligent asset management software solution, today announced it secured a growth investment from Emerald Technology Ventures, an internationally recognized cleantech venture capital pioneer. The support and resources of the Emerald platform will enable MentorAPM to grow its footprint in the global market for heavy industry and infrastructure solutions. Financial terms of the private transaction were not disclosed.
“We’re thrilled to secure the support of Emerald and about the opportunities this investment offers. It’s a validating indication that we’re leading the way in the burgeoning market of asset management” said Tacoma Zach, MentorAPM co-founder and CEO. “Process industries and utilities alike are understanding the importance of doing the right things, to the right assets, at the right time. We’ve seen over and over that next-level asset management has the power to completely transform organizations, and we look forward to the continued growth and innovation this investment will enable.”
MentorAPM’s platform is designed to help end users connect horizontal and vertical assets, workforce, GIS spatial mapping and data in a single solution. More comprehensive than its competitors, the software can help optimize the performance and lifespan of physical assets in a variety of critical fields, including water and wastewater, power generation, oil and gas, pulp and paper, and chemical processing. Faced with complex challenges including labor shortages, aging equipment, and decarbonization and conservation pressures, utilities and process industries are driven to adopt nimble, digitally enabled practices.
The need for enterprise asset management solutions is immediate and forecast to expand rapidly, and Emerald’s investment will advance the build-out of MentorAPM’s sales and marketing team and be a vital tool in its race to tap this fast-growing and dynamic space. “MentorAPM offers the complete package for utilities and other process-based industrial sectors facing increasing demands on their time, manpower and resources,” says Emerald partner Helge Daebel, who will join MentorAPM’s Board.
Emerald is a globally recognized venture capital firm building a sustainable future at the crossroads of industry and technology. Founded in 2000, it is a pioneer in open innovation, providing multi-national corporations with rich deal flow and insight in the sectors and markets of tomorrow. Emerald manages and advises assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm is dedicated to tackling big challenges in climate change and sustainability via over 500 venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups. For more information, please visit www.emerald.vc.
