Service Intelligence Platform Raises $70 Million

Aquant, a service intelligence platform, closed a $70 million Series C investment round that will fund the company’s growth in assisting service technicians using artificial intelligence.

The funding round was led by Qumra Capital, Insight Partners and Pitango Growth and brings the company’s total capital raised to $110 million. The fresh capital will be used to expand the company’s engineering, client services and go-to-market teams in the U.S., Europe and Israel and to further innovate and develop its AI platform.

The company serves as a resource library for service technicians in a range of industries by compiling structured and instructed data and the tribal knowledge of industry experts into an AI platform that provides improved service recommendations and automated insights to technicians.

The platform, the company believes, will help businesses as they battle a talent shortage and skills gap.

“Service intelligence solves an increasingly problematic talent shortage in the field service industry, providing new hires access to decades of technical knowledge, account data and service history at their fingertips. As Baby Boomers continue to retire from technician roles and younger Millennial and Generation Z employees fill their positions, sharing knowledge and employing data effectively will be increasingly important,” reads a press release from the company.

Aquant works across a number of industries, including foodservice equipment manufacturers, medical device manufacturers, capital equipment manufacturers, industrial automation and appliances. Its clients include Siemens Healthineers, Beckman Coulter, Home Depot, 3D Systems and Sysmex.