Lost to unplanned downtime, every year
Unplanned downtime now consumes 11% of revenue at the world's 500 largest industrial companies. That figure has climbed steadily for five years.
Siemens, True Cost of Downtime 2024
About Parakeet Risk
Not your typical risk company.
Parakeet is the continuous risk engineering platform for industrial operations. We exist because the numbers below are still true - and they should not be.
Why we exist
Industrial risk is a tax on everything we make.
Per hour of unplanned downtime
One hour down costs the typical industrial plant $125,000 - and 69% of plants suffer an unplanned outage at least once a month.
ABB, Value of Reliability 2023
Annual cost of workplace injuries in the US
Wage and productivity losses, medical expenses, and administrative costs - carried by employers, workers, and insurers alike.
NSC Injury Facts, 2024
Preventable workplace deaths in one year
In the US alone. Behind every one is a control that failed quietly, long before anyone noticed.
NSC Injury Facts, 2024
What it costs all of us
These costs do not stay on the plant floor. They flow into insurance premiums, contract prices, and the price of everything we all buy. Managing risk continuously - not once a year on paper - is how we bring them down.
The founder
Built by people who have lived the reports.
I wanted to live in a world of abundance. Turns out the road there runs through industrial risk: safer, smarter plants mean cheaper everything.
A team that has worked across insurance, industrial enterprises, and AI agents.
Backed by
- Mythos VC
- Betaboom
- Convoi Ventures
- Element Ventures
- Teamworthy Ventures