$90 Million Raised To Transform Field Service Workforces With AI-Driven Automation

  • Zinier, a leader in intelligent field service automation, announced recently that it raised $90 million in Series C funding

Zinier — a leader in intelligent field service automation — announced recently that it raised $90 million in Series C funding to transform field service workforces with AI-driven automation. New investor ICONIQ Capital led the round with new participation from Tiger Global Management, and existing investors Accel, Founders Fund, NGP Capital, Newfund Capital, and Qualcomm Ventures LLC. And the funding will support global customer adoption and expansion of Zinier’s AI-driven field service automation platform called ISAC.

Over the past year, more than $100 million was invested in Zinier to transform the way field service work gets done. Ranging from the electricity that lights up homes to wireless connectivity that enables communication around the world, it is expected that these services work on-demand. And for companies that enable these services, the most important work falls on their field service organization. These teams are typically slowed down by legacy systems and manual processes. And as margins shrink and the volume of work continues to rise, it is critical for enterprises to have real-time visibility into the field and drive productivity by automating routine work.

“Services that we rely on every day – electricity, transportation, communication – are getting by on centuries-old infrastructure that requires a major upgrade for the next generation of users,” said Zinier co-founder and CEO Arka Prava Dhar. “A field service workforce powered by both people and automation is necessary to execute the massive amount of work required to not only maintain these critical human infrastructures, but to also prepare for growth. Our team is focused on enabling this transformation across industries through intelligent field service automation.”

Within the last couple of years, Zinier built ISAC from the ground up and entered the market to help enterprises jump from reactive field service management to proactive field service automation. And since then, Zinier worked with a number of global companies like Black & Veatch and Car-Sa. Plus the company formed strategic partnerships with system integrators like Capgemini and Tata Consultancy Services.

“Zinier is poised to disrupt field service delivery as we know it,” added ICONIQ Capital partner Will Griffith. “It is critical for companies to optimize this costly and complex part of their business, and Zinier has the platform-based technology and team to take on this global, multi-industry market. We are excited to partner with Zinier and support them in their mission of changing the paradigm on field service work on a global scale.”

This round of funding will be used to accelerate continued global expansion including entry into Australia, Brazil, Chile, France, and the Iberian Peninsula. And it will also be used for R&D to expand ISAC’s AI-driven platform capabilities and configurability. Plus it will be used for expansion into additional industries that rely on field service work for business success.

“Early field service software providers emerged decades ago and their solutions reflect just that,”  explained Accel partner Dinesh Katiyar. “We continue to invest in Zinier because of its platform, its people and its potential to empower field service workforces with a dramatically more intelligent solution. Capturing and understanding data on the ‘who, what and where’ is critical to the mobile workforce of the future and Zinier is enabling enterprises to truly optimize this critical part of the business for the first time.”

This year is going to be pivotal for companies across services like telecommunications, energy, utilities, and beyond. And with the preparation of 5G to managing new data streams created by IoT-connected devices, field service organizations are a key driver of business growth and enabling game-changing developments that impact how we live.

Source link