The investment is intended to fuel accelerated growth, support ongoing customer success, and foster product innovation for the Digital Production and Maintenance software provider
SPARKS, Nev.—Jan 21, 2021 – L2L, a leading software provider of plant floor digital production and maintenance solutions for manufacturers, announced today that it has secured a growth investment from M33 Growth, a Boston-based venture, and growth-stage investment firm.
As evidenced by L2L’s record growth at the close of 2020, COVID-19 has accelerated the need for digitization, greater efficiency, and remote visibility. For L2L’s customers, creating digital operating processes that drive continuous improvement in the areas of operational availability, quality, and lowering costs have continued to drive better year-over-year results. L2L’s success and more importantly, their customers’ success through a challenging year for the industry, further proves the value of L2L’s manufacturing software solutions.
“We’ve built a great customer base and have seen a tangible, bottom-line impact in driving operational improvements for our customers,” said Keith Barr, President & CEO of L2L. “M33 will help us bring this value to more companies and bring additional capabilities to our customers’ manufacturing sites. M33’s experience in the marketplace, access to industry experience, and ability to add resources to fuel our growth will add significantly to our ability to achieve our mission of unlocking continuous improvement for manufacturers across the globe.”
Addressing the immediate challenges on the manufacturing floor while enabling digitization and continuous improvement is being recognized as the achievable method to realizing Industry 4.0. This is why L2L was awarded the Manufacturing Leadership Partner Award by Frost & Sullivan for years 2017, 2018 and by the National Association of Manufacturers in 2020. L2L was also identified by Gartner as a “Cool Vendor” in 2019.
With the successful move to virtual software deployments, including new digital resources to train and enable smooth rollouts, L2L is poised and structured to continue the accelerated growth into 2021 and beyond.
“We feel so fortunate to have the opportunity to partner with the L2L team,” said Mike Anello, Co-founder of M33. “There are three core ingredients to building a category-defining company in our minds: lightning-fast implementations, raving customers, and great employees. We believe that L2L has this in spades. Given the modern architecture L2L’s platform is built on, they can typically have customers live and recognizing value in 4-8 weeks. This is why L2L had the highest customer satisfaction rate we’ve ever seen at +82 NPS. Lastly, what impressed us the most was that Keith, Tyler, and Bob purposefully built L2L’s culture from the bottom up with true manufacturing domain experience. We believe that there is no better team to deliver best in class solutions for this market.”
To learn more about Leading2Lean (L2L), visit www.L2L.com.
About Leading2Lean (L2L)
Founded in 2010, L2L provides a Lean Execution System software platform for manufacturers. It has integrated and easy-to-use lean tools that allow operators and managers to use real-time data to reveal and solve root cause problems that cause metric misses, all while creating a sustainable plant floor culture of continuous improvement. For more information, visit www.L2L.com.
About M33 Growth
M33 Growth is a venture and growth-stage investment firm that partners with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and breakthrough as market leaders. With deep experience fueling sales and marketing engines, driving acquisitions, and building value through data assets, M33 Growth seeks to propel portfolio companies to succeed in their markets. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America. Learn more at m33growth.com
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