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.”
Read more in this article by Global Water Intelligence: MentorAPM raises external capital for growth – Global Water Intelligence