Veros Systems is a technology company.
Veros Systems has raised $18.0M across 4 funding rounds.
Key people at Veros Systems.
Veros Systems has raised $18.0M in total across 4 funding rounds.
Key people at Veros Systems.
Veros Systems has raised $18.0M in total across 4 funding rounds.
Veros Systems's investors include Elsewhere Partners, Emergence Capital, LiveOak Venture Partners, Next Coast Ventures.
Veros Systems is an industrial technology company specializing in asset monitoring for rotating equipment in industrial machines. It develops software and data analytics solutions that apply machine learning to electrical waveforms, enabling continuous health monitoring, real-time performance insights, and proactive failure predictions[1][2][5]. The flagship product, Veros ForeSight, delivers a dashboard with real-time metrics and early failure warnings, serving sectors like oil & gas, manufacturing, and energy to reduce downtime and boost efficiency[1][5]. Founded in 2001 in Austin, Texas, the company raised $19.96M from investors including Baker Hughes, LiveOak Venture Partners, Chevron Technology Ventures, and Shell Ventures before being acquired by Baker Hughes in May 2022[1][2][5].
Veros Systems was established in 2001 in Austin, Texas, focusing from the outset on innovative monitoring for industrial assets[1][2]. Key figures include Alexander Parlos, who serves as CTO and has ties to Texas A&M (noted as College Station) and MIT[2]. The idea emerged from applying data capture and machine learning to electrical signatures in machines, addressing gaps in traditional predictive maintenance[1][2]. Early traction came via deployments like Shell Offshore's adoption in 2018 for subsea assets at the Perdido hub in the Gulf of Mexico, validating its tech in high-stakes environments[5]. This built momentum leading to the 2022 acquisition by Baker Hughes, integrating Veros into a larger energy tech ecosystem[1].
Veros rides the Industrial IoT and predictive maintenance wave, fueled by AI/ML for asset optimization in aging infrastructure[1]. Timing aligns with post-2020 digital transformation in energy and manufacturing, where downtime costs billions annually—Veros's solutions cut these by predicting failures early[1][2]. Market forces like energy transition and supply chain pressures favor non-invasive tech, positioning it against rivals like 3d Signals or MachineSense[1]. Post-acquisition by Baker Hughes, Veros amplifies influence in oilfield services, scaling tech across global operations and contributing to the $10B+ IIoT monitoring market[1].
Integrated into Baker Hughes since 2022, Veros will likely expand ForeSight across energy giants' fleets, leveraging Baker's scale for hybrid cloud-edge deployments[1]. Trends like AI-driven twins and net-zero mandates will shape growth, enhancing waveform analytics for renewables and electrification[1][2]. Its influence may evolve from niche innovator to core enabler in industrial reliability, powering efficiency in a decarbonizing world—echoing its origins in turning machine data into foresight for unbreakable operations.
Veros Systems has raised $18.0M across 4 funding rounds. Most recently, it raised $2.0M Series C in June 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2020 | $2.0M Series C | Elsewhere Partners, Emergence Capital, LiveOak Venture Partners, Next Coast Ventures | |
| Jul 1, 2014 | $3.0M Series A | Elsewhere Partners, Emergence Capital, LiveOak Venture Partners, Next Coast Ventures | |
| Sep 1, 2013 | $8.0M Series A | Elsewhere Partners, Emergence Capital, LiveOak Venture Partners, Next Coast Ventures | |
| Jul 1, 2013 | $5.0M Series A | Elsewhere Partners, Emergence Capital, LiveOak Venture Partners, Next Coast Ventures |
