Harbinger Raises $240 Million to Expand Industrial Electrification

Fact Base, a Japanese company that develops manufacturing software, has successfully raised approximately $28.8 million in a Series D funding round. This funding was secured through the issuance of new shares and the transfer of existing ones.

Insight Partners led this round, having previously supported the company during its Series C round. New investors joining the round include Artemis Ventures and MPower Partners. The investment is aimed at realizing Fact Base's plans to expand beyond Japan.

The company creates a cloud-based drawing management system called ZUMEN, designed for manufacturers. Founded in September 2022, Fact Base focuses on small and medium-sized manufacturers who often use paper blueprints and fragmented document management processes. ZUMEN integrates drawings and related documents into a single digital platform.

Over the past year, the company has demonstrated significant commercial growth: revenue increased by 2.3 times compared to the previous year, and the number of companies implementing ZUMEN grew by 2.2 times. Currently, the platform operates in 14 countries, including Japan.

Manufacturing enterprises critically depend on technical drawings throughout their operations, as these documents connect designers, clients, and production teams. However, many small manufacturers continue to manage drawings using paper methods, which creates difficulties in storing, exchanging, and retrieving important information, and hinders the effective utilization of accumulated production data. Fact Base aims to solve these problems with ZUMEN.

The platform centralizes drawings and associated documents in the cloud, helping manufacturers simplify documentation management and laying the foundation for broader digital transformation of manufacturing processes. CEO Masataka Takeuchi noted that the company was founded based on problems observed during visits to manufacturing sites and believes that technology can solve long-standing issues in Japanese manufacturing. The company plans to expand functionality beyond simple drawing management.

Fact Base will use the raised funds to strengthen international sales departments and hire personnel, as well as to accelerate the technical development of ZUMEN. Additional investments will support the implementation of new features and product improvements. The company's mission remains unchanged—to make manufacturing seamless. Furthermore, the company will explore business opportunities outside the core platform, planning to expand its product portfolio through new business development. Additional funding will strengthen administrative operations and management structures.

Fact Base currently has five domestic offices and 11 overseas branches. International expansion has necessitated broader hiring. The company plans to recruit specialists in engineering, sales, and customer support. The next phase will combine product development with international expansion. These investments will help build the organizational foundation for future growth, and the company is preparing for a potential initial public offering. Its stated goal is to become indispensable to manufacturers worldwide, leveraging its experience in Japanese manufacturing.

Max Wolff from Insight Partners described drawing management as a persistent problem in manufacturing, noting that ZUMEN offers an affordable solution with immediate operational value. Insight Partners will continue to support the company's international expansion. Archibald Siganer, Managing Partner at Artemis Ventures, also highlighted the platform's potential among small manufacturers, pointing to the growing need for digitalization. He called ZUMEN an accessible tool for solving critical operational tasks. MPower Partners noted its understanding of Fact Base's factory processes and its capacity for international expansion, believing the company can help modernize manufacturing and global supply chains.

Larridin, a company based in South San Francisco, has raised $30 million to develop its corporate artificial intelligence measurement platform. The company helps businesses understand the financial impact of implementing artificial intelligence. With this funding round, Larridin's total funds raised have reached $47 million.

Pelion Ventures led the Series A investment round. Other existing investors participating in the deal include Andreessen Horowitz and Gradient Ventures. New investors in the round include GFT, W23, Thayer, DG Daiwa Ventures, Alumni Ventures, and Cougar Capital. The company has tracked over two billion AI-related sessions.

The funds will be used to develop the product and expand the team. The startup's platform connects data on AI implementation, performance, and financial information from various organizations. This allows business leaders to identify opportunities and make more informed investment decisions.

Larridin is targeting a growing problem among enterprises that are adopting artificial intelligence. Most companies track AI activity but do not understand what results this activity generates. The company's platform correlates employee and agent activity with operational outcomes.

It enables businesses to assess where tools provide a return on investment and where costs should be cut. Larridin reported that the average increase in measurable team output was 47%. Furthermore, the company notes a median AI cost optimization of $2.4 million within the first year of client operation.

Larridin's client base includes SurveyMonkey, Vertiv, Klaviyo, Gainsight, and Globality. Other clients are TigerConnect, EcoVadis, and Sundt. The platform also identifies differences in AI spending across various teams. In one client project, one engineer accounted for approximately 65% of the team's total AI costs in one week.

Another analysis showed a sixty-sixfold difference in the cost of a single submitted engineering change. Two AI tools performed similar work but generated significantly different costs. This data demonstrates why mere adoption metrics are insufficient for a complete picture.

Along with the funding announcement, Larridin presented its quarterly report on the impact of AI on engineering. The Q3 2026 report covers the level of AI adoption among over a thousand software engineers. The report identifies workflow violations in software development.

The proportion of code merge requests executed by AI increased from 35% in April to 62% in September. However, the higher workload also created additional pressure on the review process. The median waiting time for initial human code review increased by 50% over the same period.

These results point to increasing pressure points for engineering teams. An increase in AI-generated work does not guarantee faster software delivery. Organizations must consider both review throughput and code quality.

Larridin will scale its staff in parallel with product development. Jeff Kierl, General Partner at Pelion Ventures, stated that 'Larridin provides transparency on how dollars spent on corporate AI translate into quantifiable business results.'

Larridin enters a market where corporate AI spending continues to draw close scrutiny. Businesses are moving from initial adoption to stricter financial control. The company was founded in 2024 and has expanded its client base. Larridin's goal is to provide measurement for both employees and software agents.

The platform supports organizations across various industries and business functions. Alex Rampell, General Partner at Andreessen Horowitz, also highlighted the company's potential, calling its technology an important standard for measuring corporate AI. The investment will support additional capabilities as enterprises demand greater transparency. The broader trend goes beyond measuring software subscriptions; companies are increasingly seeking to understand the link between AI spending and completed work. This latest funding will support efforts to improve accountability for AI investments.

Serval has raised $150 million in a Series C funding round to scale its platform for automating business processes in large enterprises. The round was led by Sequoia, which valued the company at $3 billion. Existing investors included Elad Gil, Evantic, First Round, General Catalyst, and Redpoint, while new participants in the round were Conviction and Headline.

Thanks to this capital raise, the total investment in Serval has reached $277 million. This marks the company's third funding round in approximately twelve months, following a $75 million Series B round announced in December 2025. Serval's main goal is to replace routine administrative tasks with automated workflows.

Serval's technology creates automations that resolve requests within a controlled corporate system. The company serves clients such as Fox Corporation, WPP, Live Nation, Notion, Ramp, and Lucid Motors. The funds raised are planned to be used to accelerate product development and expand global operations.

Serval's core product, Catalyst, allows employees to automate work using artificial intelligence agents. Users do not require engineering expertise; they can simply describe tasks in natural language, after which the platform automatically creates the necessary automations to perform them.

Initially, Catalyst focused on IT support, handling processes like password resets and access requests. Now, the company is expanding its capabilities to other departments of enterprises, aiming to help employees automate repetitive work outside of traditional IT operations.

The company reports that its quarterly recurring revenue has doubled since the Series B round. Furthermore, two clients from the Fortune 20 list have recently implemented the Serval platform for organization-wide automation. Most clients begin using the product within 30 days.

Serval positions its technology against established enterprise service providers. Its strategy challenges outdated systems that primarily track requests rather than automatically resolving them. Serval's ability to ensure reliable implementation remains a key driver of its growth.

The company is launching a professional services division called ProServal, which will specialize in enterprise automation. This division will place over one hundred Automation Engineers in complex organizations. Serval also intends to increase its staff in several areas.

These automation experts will determine which tasks are eligible for automation and create solutions by designing automation around existing business processes. The company plans to hire engineers who can learn quickly in the constantly changing environment of AI development tools. About half of the first cohort of engineers will consist of recent graduates who will be offered a four-week training course before being placed in client organizations. This helps solve one of the major problems of enterprise AI—turning impressive technology into real business value.

Serval's latest funding reflects investor interest in operational AI agents. These systems are capable of not just answering questions but also performing tasks within corporate environments, opening up opportunities to challenge existing software platforms.

However, competition remains high, as ServiceNow and Workday are expanding their own AI-powered automation capabilities. These recognized providers also possess existing customer relationships and corporate control. Serval must prove that its platform can reliably replace legacy systems at scale.

With clear revenue growth, Serval demonstrates strong commercial appeal. However, maintaining this pace lies in the more complex implementation within large organizations. By securing a $150 million round, Serval will gain the opportunity to scale its operations.