$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
Mumbai – March 6, 2019 – 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.
For more information on Zinier, please visit: https://www.zinier.com/
Supporting Quotes
Accel
“Field service management has plenty of room for improvement. However, injecting intelligent automation across the entire field service delivery chain allows for significantly reshaping the landscape and capturing even larger value,” said Dinesh Katiyar, Partner at Accel. “Zinier’s AI-driven field service automation platform has resonated with customers in the telco sector, and our re-investment in the company is a testament to the technology’s potential in other high-growth markets.”
Founders Fund
“Field service organizations suffer from the same issue facing many sectors: the amount of data being collected outstrips companies’ ability to make use of it. Zinier’s intelligent automation technology is directly addressing this problem for an industry in which the pace of innovation over the past 20 years has been glacial,” said Trae Stephens, Partner at Founders Fund.
NGP Capital
“Field service organizations are still primarily run manually, with lack of automation and real-time visibility into the field work. Having reviewed the Field Service software industry extensively, we were impressed by Zinier’s platform, which enhances workflow automation with predictive intelligence and a delightful user experience,” said Upal Basu, Partner at NGP Capital. “Zinier enables companies to draw meaningful insights from data to automate their processes and drive efficiency, which is the ultimate promise of IoT. We look forward to working with Arka and his team to help scale their business in the Telecom sector and beyond.”
Qualcomm Ventures
“We were impressed with Zinier’s novel approach to proactive field maintenance, using IoT to increase productivity through automation and intelligence,” said Varsha Tagare, Sr. Director, Qualcomm Technologies, Inc. and Managing Director of Qualcomm Ventures India. “Their end-to-end field service automation solution will help companies work smarter and faster while also enabling a more efficient deployment of 5G services worldwide.”