Posted by Mumbai: Zinier, an intelligent field service automation startup has raised $90 million from ICONIQ Capital led Series C funding round to transform field service workforces with AI-driven automation.
New investor ICONIQ Capital led the round with new participation from Tiger Global Management, and return investors Accel, Founders Fund, Nokia-backed NGP Capital, France-based Newfund Capital and Qualcomm Ventures LLC.
The funding will support global customer adoption and expansion of Zinier’s AI-driven field service automation platform, ISAC.
In 2019, more than $100 million was invested in Zinier to transform the way field service work gets done. From the electricity that lights up homes to wireless connectivity that enables communication around the world, it’s expected that these services work on demand.
For companies that enable these services, the most important work falls on their field service organization. Historically, these teams have been slowed down by legacy systems and manual processes.
As margins shrink and the volume of work continues to rise, it’s critical for enterprises to have real-time visibility into the field and drive productivity by automating routine work.
“Services that we rely on every day – electricity, transportation, communication – are getting by on centuries-old infrastructure that requires a major upgrade for the next generation of users,” said Arka Dhar, Co–founder and CEO – Zinier.
“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. Our team is focused on enabling this transformation across industries through intelligent field service automation,” said Dhar.
Less than two years ago, Zinier built its own technology platform, ISAC, from the ground up and entered the market to help enterprises make the leap from reactive field service management to proactive field service automation.
Since then, the startup has worked with leading global companies like Black & Veatch and Car-Sa, and formed strategic partnerships with system integrators like Capgemini and TCS.
“Zinier is poised to disrupt field service delivery as we know it,” said Will Griffith, Partner – ICONIQ Capital.
“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,” added Griffith.
This round of funding will accelerate:
- Continued global expansion including entry into Australia, Brazil, Chile, France and the Iberian Peninsula.
- R&D to expand ISAC’s AI-driven platform capabilities and configurability.
- Expansion into additional industries that rely on field service work for business success.
- Partnerships with leading system integrators around the world.
“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,” said Dinesh Katiyar, Partner – Accel.
“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,” added Katiyar.