Zinier Closes Oversubscribed Series B Funding Round to Bring AI-Powered Automation to the Field Service Industry
$20M+ funding from elite investors, including Accel, Founders Fund, Nokia-Backed NGP Capital, Qualcomm Ventures and Newfund, to support Zinier’s goal of transforming the $6B+ field service management market with intelligent automation
Zinier, a leading provider of intelligent field service automation, today announced that it has raised $22 million in Series B funding to accelerate global growth and expand its platform to meet the growing needs of field service organizations. Returning investor Accel led the round, along with Founders Fund, Nokia-backed NGP Capital, Qualcomm Ventures LLC and returning France-based investor Newfund.
The investment coincides with the field service industry’s shift toward digitization. As companies continue to embrace digital transformation, today’s technologies help them quickly understand the “what, when and where” of a field service request. However, these technologies do not provide the deep layer of intelligence required to drive operational efficiency. As a result, while field service organizations are able to collect massive streams of the data in the field, they aren’t able to utilize that data to increase productivity, reduce costs and boost customer satisfaction.
Built on Zinier’s pure-play, AI-driven platform, Field Service Elements delivers this missing intelligence. The solution combines artificial intelligence and proactive insights to automate critical back office functions while providing an intuitive, all-in-one mobile experience for field technicians. Imagine smart devices that can monitor equipment health and historical data to automatically trigger a preventative service request and assign it to the nearest qualified technician. All of this is possible with intelligent automation.
“Considering the massive amount of infrastructure under the purview of field service teams, automated field service has the potential to truly transform a wide range of industries,” said Arka Dhar, co-founder and CEO of Zinier. “The market opportunity for platform-based, automated field service is reflected in the huge demand we’ve seen from customers in infrastructure-heavy sectors, such as telecom, energy and financial services. With this additional investment, we’re able to continue expanding the capabilities of our platform and extend the reach of intelligent field service automation to new strategic markets and geographies.”
Zinier will use the investment to:
Continue developing and enhancing its technology platform to build out-of-the-box solutions for industry-specific customer use cases
Further expand into new regions (Zinier currently operates in North America, LATAM and APAC) and vertical markets (Zinier currently focuses on the telecom and energy industries)
Build out its global team to continue supporting Zinier’s rapidly growing customer base with the industry’s best talent
This investment underscores Zinier’s exponential growth over the past year. In 2018, led by a leadership team with decades of experience and expertise from ServiceMax, Salesforce, AT&T and Singtel, Zinier launched Field Service Elements behind a Series A funding round. These milestones enabled the company to add several of the largest global telecommunications providers to its customer roster, and positions Zinier for significant growth in 2019 and beyond.