Intelligent asset management software solution MentorAPM has secured a growth investment from Emerald Technology Ventures — a cleantech venture capital company that manages €1bn assets from its offices in Zürich, Switzerland; Toronto, Canada; and Singapore. The Emerald platform is said to 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.
Tacoma Zach, MentorAPM co-founder and CEO, said, “Process industries and utilities understand the importance of doing the right things, to the right assets, at the right time. Next-level asset management has the power to transform organisations, and we look forward to the continued growth and innovation this investment will enable.”
MentorAPM platform is designed to help end users connect horizontal and vertical assets, workforce, Geographic Information System (GIS) spatial mapping and data in a single solution. The software is said to help optimise the performance and lifespan of physical assets in water and wastewater, power generation, oil and gas, pulp and paper, and chemical processing. Faced with challenges including labour shortages, ageing equipment, and decarbonisation and conservation pressures, utilities and process industries are driven to adopt nimble, digitally enabled practices.
The need for enterprise asset management solutions is forecasted to expand rapidly, and this investment will advance the build-out of MentorAPM sales and marketing team. “MentorAPM offers the package for utilities and other process-based industrial sectors facing demands on their time, manpower and resources,” said Emerald partner Helge Daebel, who will join MentorAPM board.