ToolSense provides an Asset Operations Platform that utilizes IoT technology to track and manage equipment, vehicles, and tools, enabling real-time monitoring of parameters such as GPS location and runtime. This platform addresses inefficiencies in asset management by automating maintenance reminders and simplifying issue reporting through unique QR codes, ultimately reducing downtime and improving productivity for asset-intensive companies.
Funding
$11.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
PFounders
Product
Problem
Many organizations struggle with inefficient asset management due to reliance on manual processes, leading to increased downtime, lost assets, and difficulty tracking asset lifecycle events. Spreadsheets and paper-based systems lack real-time visibility and hinder proactive maintenance, resulting in higher operational costs.
Solution
ToolSense provides an Asset Operations Platform that centralizes asset tracking, maintenance, and lifecycle management, enabling organizations to optimize asset utilization and reduce operational inefficiencies. The platform leverages IoT technology, including QR codes and Bluetooth tags, to provide real-time data on asset location, usage, and condition. By automating maintenance reminders, streamlining issue reporting, and facilitating data-driven decision-making, ToolSense helps companies minimize downtime, improve productivity, and gain a comprehensive understanding of their asset performance. The platform integrates with existing ERP systems and offers customizable forms and checklists to adapt to specific operational needs.
Target Audience
ToolSense targets operations, maintenance, and repair teams across various industries, including construction, facility management, manufacturing, and property management, seeking to streamline asset management processes and improve operational efficiency.
Features
- Centralized asset repository for tracking equipment, machines, vehicles, and tools
- QR code scanning for quick issue reporting and asset identification via a mobile app
- IoT-enabled monitoring of asset location, runtime, battery level, and other parameters
- Automated maintenance scheduling and reminders based on asset type or IoT data
- Customizable inspection forms and checklists for equipment safety compliance
- Asset lifecycle tracking, including relocation, service cases, and status changes
- Parts inventory management with low inventory alerts and reporting
- Vehicle trip management with real-time tracking and route reporting
- Equipment scheduling module for advanced machinery planning and cost calculation
- Integration with ERP systems and support for single sign-on (SSO)