Unicorn Augury Acquires Seebo To Offer Manufacturing Firms An Integrated Solution Combining Asset And Process Health Insights To Maximize Performance

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Unicorn Augury Acquires Seebo To Offer Manufacturing Firms An Integrated Solution Combining Asset And Process Health Insights To Maximize Performance

On May 10, 2022, Augury, the New York as well as Israel headquartered provider of AI-driven solutions for machine health and performance insights announced that it had entered into a definitive agreement to acquire Seebo, an AI-based solution provider to prevent production losses and improve quality and yield for manufacturing firms. Founded in 2012, Augury raised $180 million in a new funding round in October 2021 and attained unicorn status with a valuation of over $1 billion. The majority of Augury’s customer base are firms in the food and beverage and FMCG sectors, such as Colgate-Palmolive, Essity and Frito-Lay. Seebo was founded in 2012 and raised $24 million in Series B funding in March 2021 to further expand its geographical presence as well as solution capabilities. Seebo’s key customers include firms such as ArcelorMittal, Lindt, Nestle and PepsiCo.

With the acquisition of Seebo, Augury aims to offer a ‘Production Health’ solution to customers which combines insights on asset or machine health with process health data to help manufacturing firms achieve their production objectives around maximizing throughput, optimizing material usage and minimizing waste as well as emissions. Production Health solution aims to promote collaboration between maintenance, operations and engineering teams by delivering holistic insight into assets and processes. In the 2021 Verdantix Operational Excellence global corporate survey, process optimization was mentioned as the highest priority for improvement by the majority of the 256 operations and maintenance executives interviewed. Similarly, 85% of these executives stated improving industrial productivity as a significant factor in shaping their firm’s operational excellence strategy.

Factors such as rising energy prices, economic recession and emissions reduction is putting plant managers and heads of operations and maintenance under the gun to prevent performance decline, increase profit margins and maximize the output of plants. Solutions such as Production Health from Augury, Operations Performance Management from GE Digital and Performance 360 from SymphonyAI Industrial are well positioned to help firms achieve the twin goals of minimizing asset downtime along with maximizing performance and production.

For more information on asset management technologies such as APM, EAM, predictive maintenance, asset investment planning and digital twins, go to the Verdantix Operational Excellence research portal.

Malavika Tohani

Research Director, Operational Excellence

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.