Photo: KCF Technologies
Happy Valley-based company KCF Technologies recently secured Series A funding from Graham Partners and RiverBay Capital, benefiting KCF with their focused industry knowledge in technology, advanced manufacturing, and engineering resources. Headquartered here in State College, KCF is a provider of asset health monitoring solutions that offers an integrated platform consisting of proprietary, enterprise Software-as-a-Service (SaaS), highly-engineered Industrial Internet of Things (IoT) devices, and high-touch engineering support. KCF supports a variety of diversified and growing industrial end markets including pharmaceutical, food and beverage, power generation, forest products, oil and gas, and automotive
Graham Partners stated that KCF is benefiting from the conversion toward technology-enabled predictive maintenance in industrial settings. Equipment maintenance and repair is costly and labor-intensive, which is driving demand for scalable, data-driven technology solutions that can reduce overall operating costs. KCF goes beyond predictive maintenance and offers a comprehensive asset health monitoring platform that reduces unplanned downtime and helps its customers reduce wasted time and energy. Additionally, Graham Partners said that KCF’s solutions enhance performance and enable automation based on real-time machine condition data, and optimize machine health of critical assets. KCF leverages its proprietary software platform, which includes a library of machine data and condition monitoring expertise acquired over decades (over 200,000 collective years of machine data, 60 billion machine health measurements, and $2.7 billion in customer savings), and a high-touch engineering team, to provide customers with a deep understanding of asset performance and machine health.
KCF Technologies is joining a host of Happy Valley companies that have received private equity investments and venture capitalist funding in the past two years. These companies have been the recipients of millions of dollars in investments for their innovative ideas that push the boundaries of their respective industries.
In 2020, Blue Mountain Quality Resources, a developer of enterprise asset management products and services for the Life Sciences industry, received a significant growth investment from Accel-KKR, a leading technology-focused investment firm. Videon, leader in edge computing for live video, raised a total of $16.3 million over 7 months to expand its senior leadership, engineering, marketing, and sales teams and drive even more innovation in Videon’s next-generation video edge computing platform. EnergyCap, the number one trusted energy and sustainability ERP (enterprise resource planning), secured a strategic investment from Resurgens Technology Partners. Immunomagnetic tech company Biomagnetic Solutions partnered with Gamma Biosciences, and is building a new headquarters in Innovation Park as it moves into commercialization. Sustainable fertilizer startup Phospholutions, Inc. received $10.3 million in funding in 2021.