Limble, a provider of modern computerized maintenance management systems (CMMS), announces today a $58M Series B funding round led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs), bringing the company’s valuation to $450M.
The funding will be used to expand Limble’s product portfolio, further develop its user interface for asset monitoring and maintenance and accelerate its go-to-market strategy.
The investment from Goldman Sachs comes from its recently launched $5.2 billion growth equity fund, dedicated to investing in high-growth businesses with strong market positioning and durable business models.
The company also announced John Connolly, senior advisor to the Growth Equity business within Goldman Sachs Asset Management and a five-time CEO, will join Limble’s Board of Directors to advise on the company’s next stage of growth.
Connolly will join Lars Letonoff, former CRO of KnowBe4, the world’s largest security awareness training and simulated phishing platform; and Jeremiah Daly, founder and general partner of Elephant. Brendon Hardin from Goldman Sachs’ Growth Equity business will also be joining the board in conjunction with this investment.
Over the past 12 months, Limble has achieved 130 percent growth and has increased its headcount by 240 percent. With its modern, innovative approach to CMMS, its customers have achieved significant cost savings.
In 2022, Limble customers saved a total of $134 million in downtime costs, $68 million in parts spending and $442 million in reduced labor costs.
To learn more, visit Limble CMMS.