Fiix secures $53 mln in Georgian Partners-led Series C round

Fiix, a Toronto-based maintenance and asset management software provider, has raised about $53 million (US$40 million) in a Series C financing. The round was led by Canadian growth equity firm Georgian Partners. It was joined by BuildGroup, which led Fiix's Series A and B financings. Georgian Managing Partner Simon Chong joined the board. Founded in 2008 and led by CEO James Novak, Fiix creates software that helps businesses plan and schedule their maintenance to increase production and decrease unplanned downtime. It reports revenue growth in the past year of more than 90 percent. Fiix will use the funds raised to continue scaling and explore new technologies, such as artificial intelligence, internet of things and predictive maintenance capabilities.