Fieldwire has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers comprehensive jobsite management solutions tailored for construction teams.
Keep reading to delve into the details of Fieldwire's fundraising journey and the key investors supporting this innovative platform.
What Is Fieldwire?
Fieldwire, part of Hilti Construction Software, is a jobsite management platform designed to streamline construction projects. Founded in 2013, the company is headquartered in San Francisco, California.
The platform was created by Yves Frinault and Javed Singha, who aimed to enhance collaboration and efficiency in the construction industry. Fieldwire offers features like task management, scheduling, and document management to improve coordination and reduce risks on job sites.
With a dedicated team of over 100 employees, Fieldwire continues to innovate and support construction teams worldwide.
How Much Funding Has Fieldwire Raised?
- Amount Raised: $1.1 million
- Date: Fall 2013
- Lead Investors: BloombergBeta, AngelPad
- Motivation Behind the Round: To gain initial investor attention and support the early development and growth of the platform.
- Amount Raised: $6.6 million
- Date: October 2015
- Lead Investors: Formation 8
- Motivation Behind the Round: To meet the growing demand for Fieldwire's services and to expand the team.
Fieldwire has raised a total of $7.7 million in funding. The current valuation is $50 million (~estimated).
Key Investors
- Formation 8
- Details: Formation 8 is a venture capital firm known for its investments in technology companies. They led Fieldwire's $6.6 million funding round in 2015.
- Investment Focus Areas: Enterprise software, hardware, energy
- Notable Investments: Oculus VR, RelateIQ
- Trinity Ventures
- Details: Trinity Ventures is a venture capital firm that participated in Fieldwire's funding round. They focus on early-stage technology companies.
- Investment Focus Areas: SaaS, mobile, enterprise software
- Notable Investments: New Relic, Starbucks, Zulily
- Bloomberg Beta
- Details: Bloomberg Beta is an early-stage venture fund backed by Bloomberg L.P. They were an early backer of Fieldwire.
- Investment Focus Areas: Data, machine learning, early-stage technology
- Notable Investments: Codecademy, Newsle
- AngelPad
- Details: AngelPad is a startup accelerator that helped Fieldwire gain initial investor attention in 2013. They support early-stage startups across various technology sectors.
- Investment Focus Areas: Technology startups, SaaS, mobile
- Notable Investments: Postmates, Buffer
What's Next for Fieldwire?
Fieldwire is poised to capitalize on the $8.5 trillion global construction market, aiming to enhance efficiency where most projects are late or over budget. With its task management focus, the platform is already used in 35,000 projects across 1,000 companies in 100 countries, indicating significant growth potential.
As the construction industry increasingly adopts mobile technology, Fieldwire's unique approach positions it well for future investment rounds. However, the company faces challenges from rapid industry changes and a crowded market of startups aiming to solve similar problems. Managing construction productivity remains a complex task, but Fieldwire's innovative solutions could make it an attractive acquisition target.
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