#USA #Boston #Expedition Capital #Fabriq #Lean Daily Management

Fabriq’s Significant Growth Funding

In a strategic move to revolutionize manufacturing operations, Fabriq, recognized for its Lean Daily Management (LDM) SaaS platform, has successfully secured $25 million in growth equity funding. This investment was spearheaded by Expedition Growth Capital, with continued support from existing investor OSS Ventures. The funding is aimed at bolstering Fabriq's global expansion efforts, particularly in Europe and North America.

Founded in 2019, Fabriq empowers front-line manufacturing teams by providing them with advanced tools to improve their daily management practices. As articulated by Octave Lapeyronie, co-founder and CEO, the funding will accelerate hiring, enhance sales initiatives, and advance product development towards creating an AI-powered operating system specifically designed for the shop floor.

The Need for Modern Solutions in Manufacturing

Despite significant investments in machinery within the manufacturing industry, the same cannot be said for the people who operate such machinery. Frontline teams often find themselves relying on outdated tools like spreadsheets and whiteboards, which hampers their efficiency and problem-solving capabilities. This leads to:

• - Time wasted on administrative tasks instead of addressing pressing issues.
• - Repeated problems surfacing without any systematic tracking.
• - Stagnation in continuous improvement efforts and employee engagement.

With the growing urgency for reshoring and a workforce increasingly pressured by a talent crisis, equipping frontline teams with modern tools is imperative. According to the World Economic Forum, roughly 44% of workers’ skills will face disruption in the next five years, which further underscores the urgency for manufacturers to adopt innovative solutions.

Fabriq’s Impact and Global Reach

Fabriq’s transformative platform has already made waves across more than 600 sites in 43 countries, collaborating with major organizations such as Bel, Collins Aerospace, Danone, Safran, Airbus, Medtronic, Merck, and LVMH Fragrance Brands. The objective is to help these organizations achieve operational excellence through reliable processes that minimize waste and downtime.

Didier Perrin, Vice President of Manufacturing in Global Operations at Medtronic, emphasized the positive changes experienced after deploying Fabriq in their 13 manufacturing sites in the EMEA region. Within months, significant efficiencies were achieved, underscoring Fabriq’s pivotal role as more than just a digital tool. It emerged as a catalyst for rapid and effective standardization across all operational sites.

A Call to Action for Talent

As Fabriq sets its sights on further growth, especially in its Boston office, there is a call for job seekers to consider opportunities that support the company’s ambitious plans. This funding round not only underlines Fabriq’s commitment to enhancing operational excellence but also its determination to build a strong team formed around innovation in manufacturing practices.

About Fabriq

Fabriq’s mission stands clear: to empower manufacturing organizations to reach their daily performance objectives while championing continuous improvement and operational excellence. The platform digitizes daily management for front-line teams and boasts a notable 30% increase in productivity, facilitated by more reliable operations and enhanced team engagement. Fabriq’s collaboration extends beyond manufacturing giants to various industries, including Scania, John Deere, Elanco, Bulgari, Renault, and Collins Aerospace.

For more information on how Fabriq can transform manufacturing settings, explore their solutions at Fabriq's website.

About Expedition Growth Capital

Expedition Growth Capital focuses on nurturing ambitious and rapidly-growing software companies. With a specialization in growth equity, they provide valuable capital and operational expertise, ensuring a respected and collaborative partnership with founders as they navigate towards industry leadership.

To keep updated with Fabriq and its innovative solutions, follow their journey on social media and explore the prospects they offer for future talent.