Eps 2: Why did we invest in Zinier?
SAN FRANCISCO - January 15, 2020 - Zinier , the leader in intelligent field service automation, today announced that it has raised $90 million in Series C funding to transform field service workforces with AI-driven automation.
"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.
Field service organizations around the world use our AI-driven platform to supercharge every aspect of their field service operations.
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Nicole Gonzalez
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Today we announced that we have raised $90 million in Series C funding to transform the field workforce through artificial intelligence - driven automation. We have invested over $100 million in Zinier, transforming the way field work is done, and we recently announced that we have completed a $50 million Series B round of financing from NGP Capital and Newfund Capital.
This round was led by the new investor ICONIQ Capital and the existing investors Fund of America, LLC and Newfund Capital. These funds will support the development of our AI-based Field Service Automation Platform, called ISAC.
Zinier, a leading provider of automation solutions for field service, today announced that it has raised $22 million in Series B funding to accelerate global growth and expand its capabilities to meet the growing needs of field service organizations. This round was led by the returned investor Accel, in which Nokia - supported by NGP Capital, Fund of America, LLC and the returned French investor Newfund Capital - participated. Over the past three years, we have invested over $100 million in ziniers to transform the way field services are delivered.
As companies continue to embrace digital transformation, today's technology helps them quickly understand their customers "needs, Dhar told TechCrunch in an interview. Zinier has helped the electricity and telecommunications industries automate their field services, a job that is usually slow to innovate and relies on old systems and manual processes.
Dhar declined to reveal any key customers of Zinier, but said some of the major players in the power and telecommunications business are working with the start-up. In fact, 40% of customers are still outside the US - 40 are in Latin America and the rest in Asia-Pacific. Dhar said the process could be optimized with artificial intelligence to help customers become more efficient and save money.
For the uninitiated, FSM concerns tasks associated with service technician jobs, which may include maintenance of equipment distributed across multiple locations. This is a complex and resource-intensive task, as these are variables and need to be monitored and tracked by humans. Founded in 2015, Zinier is one of several start-ups created to automate traditional industrial processes, targeting R & D SMEs in the telecommunications and gas industries.
With margins shrinking and work volumes increasing, it is vital for companies to be on site in real time and to increase productivity by automating routine work. A human and automated field service is needed to perform the enormous amount of work required to maintain critical human infrastructure and prepare for growth. Less than two years ago, Zinier built its own technology platform from scratch and entered the market to help companies use their FSM resources more efficiently.
Since then, Zinier has worked with leading global companies and partnered with some of the world's largest companies, including Google, Microsoft, IBM and SAP. AI - powered automation - said it intended to end its $22 million Series A financing round led by France - based Newfund Founders Fund and Nokia - which NGP Capital backed.
While the Series A financing round has enabled the company to add several global telecommunications providers to its customer portfolio, Zinier has initiated elements of it. Most importantly, the funds we have received from Ziniers will be used to grow our company while focusing on our core business model and commitment to our customers and employees.
Zier has an AI-driven platform, Functionize, that brings together artificial intelligence insights to automate back-office functions with a complete mobile experience for field technicians. Functionize offers an autonomous test platform that integrates AI and machine learning to automate software development.
Functionize raised Series A financing led by Canvas Ventures in a $1.5 million financing round led by Accel. Other participants included Google Ventures, Sequoia Capital, GGV Capital and Silicon Valley Venture Capital Group. Work and help us to offer our customers an unparalleled experience, "said Zier co-founder and CEO Andrew Ziegler.
Zier's intelligent automation technology directly addresses the downsides of associate nursing, where the pace of innovation has been icy for the past twenty years. Qualcomm Ventures said: "We are concerned by the need to increase productivity through automation and intelligence. We operate field service organizations in all areas and units and are particularly interested in the field of care.