Tractian has raised a $130 million Series D at a $1.4 billion valuation. Dealroom reported, citing founder and CEO Igor Marinelli, that annualized recurring revenue crossed $100 million in September and grew 90% from a year earlier. Sapphire Ventures led the round, with M&G’s Catalyst co-leading. Tractian did not specify whether the valuation was pre- or post-money.
That revenue milestone puts a recurring-revenue measure beside a business whose deployments begin with physical hardware. Dealroom reports that Tractian retrofits machines with about a dozen sensor types measuring vibration, temperature, pressure and water level. The company says its software combines readings, including ultrasound signals, to identify likely root causes and recommend maintenance actions.
Dealroom’s customer breakdown shows that Tractian’s biggest installed market and its fastest source of growth are different. Food and beverage leads by size; critical infrastructure, including AI data centers, is expanding most quickly. Tractian says the platform can monitor equipment such as compressors, chillers, palletizers, pumps and backup systems.
Tractian says more than 2,000 critical facilities worldwide use its technology. It names Eli Lilly, McKesson, Whirlpool, Coca-Cola, Cummins and Embraer as customers across pharmaceutical production, distribution, appliances, bottling, engines and aircraft manufacturing.
The Series D follows a $120 million Series C announced in December 2024 and also led by Sapphire. Tractian says it now employs more than 700 people, while Dealroom reported that the new financing will support further research and development in industrial monitoring and AI.