Parsable, the US-based creator of a software platform that connects workers, closed a $40m series C round on Wednesday that included aerospace manufacturer Airbus and oil and gas producer Saudi Aramco.
Australian sovereign wealth fund Future Fund led the round, which also featured B37 Ventures, a venture capital firm backed by some 60 corporate partners, as well as VC firm Lightspeed Venture Partners.
Formerly known as Wearable Intelligence, Parasable provides software that helps the employees of its industrial clients collaborate on tasks, receive instructions and provide feedback quickly and efficiently.
Lawrence Whittle, Parsable’s chief executive, said: “This new funding will allow us to help many more companies embark on their Industry 4.0 digital transformation.
“We are the first truly enterprise-class platform that enables the breakthrough performance companies can achieve when humans and machines work in harmony.”
The company has now raised $68m in total, having secured $20m in a mid-2016 round led by Saudi Aramco’s corporate venturing unit, Saudi Aramco Energy Ventures, and backed by Airbus and oil and gas technology producer Schlumberger and Lightspeed.
GV, a subsidiary of internet technology conglomerate Alphabet, is also a past investor, having contributed to Parsable’s $7.9m round in 2014 alongside Lightspeed, Andreessen Horowitz, Initialized Capital, Subtraction Capital and Kleiner Perkins Caufield and Byers.