Field Service Automation Platform Zinier Raises $90 Million in Series C Funding
Zinier, a global leader in intelligent field service automation announced that it had raised $90 million in Series C funding led by new investor ICONIQ Capital with new participation from Tiger Global Management, and return investors Founders Fund, Accel, France-based Newfund Capital, Nokia-backed NGP Capital, and Qualcomm Ventures LLC.
Will Griffith Founding Partner at ICONIQ Capital was quoted as saying, “Zinier is poised to disrupt field service delivery as we know it. 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.”
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Be it in the field of wireless connectivity, electricity, or telecom, the most crucial aspect of the work falls under the field service organization for the companies that enable these services.
While the traditional methods consisted highly of manual processes, shrinking margins and rising volume of work demand higher visibility in the field of work and improved productivity by the use of automation.
Zinier came into the picture two years ago to allow companies make the move from reactive field service management to proactive field service automation with the help of its own technology platform, ISAC. This has helped Zinier work with some of the major firms across the globe like Black & Veatch and Car-Sa, and formed strategic partnerships with system integrators like Capgemini and Tata Consultancy Services. Founded in 2014, Zinier has received tough competition from the likes of ServiceMax, ServicePower, and FieldAware with regards to the service offerings.
Zinier plans on leveraging the latest funding obtained to transform field service workforces with AI-driven automation and to expand the reach of the platform on a global level.
Furthermore, the company will continue investing in R&D to expand ISAC’s AI-driven platform capabilities and configurability. This will also enable additional industries to incorporate field service automation in their operations, enabling Zinier to onboard more partners.
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2020 is poised to be a key year for firms providing services across telecom, energy, utilities, and beyond as they need to be prepared for 5G to manage new data streams created by IoT-connected devices. Field service automation optimized to the point that routine and complex tasks are automated will enable major transformation across industries.
“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,” said Dinesh Katiyar, Partner at Accel.
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