Fiix acquires US-based Alchemy IoT

Aug 12 14:08 2019 Print This Article

Fiix has acquired Colorado-based Alchemy IoT, an industrial asset intelligence company, in order to bring AI to Fiix’s maintenance and asset management software. Terms of the deal were not disclosed.

“The addition of AI capabilities to our products is the next step on this digital journey.”

The acquisition follows Fiix’s $53 million ($40 million USD) Series C round that was announced in January. It also comes after a busy 2018 for the company, which saw it not only double its headcount, but also close a $12 million USD Series B round.

 

According to Toronto-based Fiix, this acquisition makes it the first computerized maintenance management system (CMMS) company to bring “true AI-driven predictive maintenance” to the market. The company plans to combine its cloud-based, smart asset management solution with Alchemy’s machine learning software to add real-time AI health and anomaly detection to Fiix’s existing platform.

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