GSAM Leads $58M Round for CMMS Provider Limble

Goldman Sachs Asset Management’s Growth Equity unit led a $58 million Series B funding round for Limble, a provider of modern computerized maintenance management systems (CMMS), which is software that helps businesses track their physical assets and ensure they’re working properly.

Founded in 2015 by Bryan Christiansen, CEO and Miguel Ramos, COO, the fresh capital brings Lehi, UT-based Limble’s valuation to $450 million.

The investment comes from the West Street Global Growth Partners’ $5.2 billion direct private markets fund, managed by Goldman Sachs Asset Management. It is dedicated to investing in high-growth businesses with strong market positioning, high growth rates and durable business models.

Limble has achieved 130% growth and increased its headcount by 240% over the past 12 months. Some of its customers include Unilever, McDonald’s, DHL, Nike, Pepsi and Sulzer, a global industrial engineering and manufacturing firm.

Including the new funding, Limble has raised $92.6 million to date, according to data from Crunchbase. Previous investors include Elephant Venture Capital and Album VC.

Limble also announced that John Connolly, senior advisor to the Growth Equity business, will join its Board of Directors.