Zürich, Switzerland: Cleantech venture capital pioneer Emerald Technology Ventures has invested into MentorAPM, which develops and sells a cloud-based asset management software platform for utilities and industrial customers. The funding round will help MentorAPM grow its footprint in the global market for heavy industry and infrastructure solutions.
Phoenix, Arizona-based MentorAPM has created a platform designed to help end users connect assets (network and plant), workforce and data in a single solution. The platform is a more comprehensive solution compared to others on the market. It 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.
MentorAPM’s target clients face increasing complex challenges, including labor shortages, ageing equipment and systems, and decarbonization and conservation pressures. Adopting nimbler, digitally enabled practices will be crucial as these broader considerations increasingly clash with the overarching mandate to simply “keep the lights on”.
All this is taking place against a market for global enterprise asset management solutions that is forecast to expand briskly, growing by 12% annually from 2022 to 2030 to eventually reach $10.6 billion. MentorAPM’s rapid build-out of its sales and marketing team will be vital as it races 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.
“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.”
About Emerald Technology Ventures
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. www.emerald.vc
About MentorAPM
MentorAPM is a leading-edge asset management software solution, powered by more than 50 years of experience with asset-intensive industries and utilities to help end users connect plant and network assets, workforce and data in a single solution. Founded in 2017 by industry veterans Tacoma Zach and John Clow, MentorAPM uniquely delivers effective asset management by equipping organizations with vital tools to identify, prioritize, and fortify critical infrastructure while simplifying and streamlining the decision-making process. The cloud-based suite includes a central CMMS integrated with powerful Asset Performance Management and risk-based decision support – all built on a foundation of asset management best practices that inform the right asset strategies. For more information, please visit www.mentorapm.com
