HighByte, a Portland, ME-based industrial software company, raised $12M in Series A funding.
The round was led by Standard Investments, with participation from existing HighByte investors, including Exposition Ventures, Maine Venture Fund, and others. Ben Sampson, Managing Director of Standard Investments, will join the HighByte Board of Directors.
The company intends to use the funds for research and development, strategic partner management, and customer success to accelerate market penetration and expand deployments within existing accounts.
Led by CEO Tony Paine, HighByte is an industrial software company that has developed an Industrial DataOps software solution, HighByte Intelligence Hub, that enables manufacturers to merge, prepare, and deliver modeled industrial data to and from IT systems without writing or maintaining code. First released in 2020, HighByte Intelligence Hub has now been deployed in 18 countries by more than 60 industrial companies with multi-plant facilities.
Commenting on the news, Tony Paine said: “Building off that success, we plan to further invest in the business to support growing customer demand, expand our global partnerships, and recruit additional talent to remain innovative, agile, and responsive to market requirements. This investment validates our mission and will be essential for the next stage of our growth.”
FinSMEs
23/04/2024