Accel-KKR has invested in UpKeep, a Los Angeles-based asset operations platform used by major industrials like McDonald's, Caterpillar, and Chevron. Founder and CEO Ryan Chan will use the funding to expand the platform and build its AI-native vision for asset management. The deal underscores growing investor interest in software that optimizes physical asset performance across large enterprises.

This investment follows UpKeep's traction with Fortune 500 clients seeking to digitize maintenance and operations. The platform helps companies manage work orders, inventory, and equipment data, reducing downtime. Accel-KKR's backing provides capital to accelerate product development, particularly in artificial intelligence, to further automate and predict maintenance needs for complex asset portfolios.

The funding round, though financial terms were not disclosed, validates the market for integrated asset operations solutions. As industrial firms push for greater efficiency, platforms like UpKeep that combine IoT data with workflow automation are becoming essential. This deal positions UpKeep to capture more market share in a sector increasingly driven by AI and real-time analytics.