Fieldwire raises $6.6 million from Formation 8

By | October 27, 2015
Fieldwire


Fieldwire, a field management platform has announced it raising $6.6 million in a financing round led by Formation 8 along with other participants like BloombergBeta, Trinity Ventures and AngelPad.



Fieldwire

Founded in 2013, Fieldwire is a field management platform that brings visibility and accessibility to thousands of fields workers on site every day. It aims to solve the problem in measuring the productivity which is called direct wrench time. With more than 35,000 project developed till date, Fieldwire has already helped the construction industry in saving millions of dollars due to inefficiency. With the recent increase in the usage of mobile devices by workers in the construction industry, the startup’s mobile collaboration capitalizes on the billions wasted every year. Fieldwire offers the platform to eliminate this inefficiency by offering field workers a powerful, yet simple, way to communicate and organize their assignments in the field.

Yves Frinault, co-founder and CEO of Fieldwire said, ” Construction is an industry stuck in the 1960s in terms of productivity. To collaborate, people still rely heavily on paper, whiteboards and physically tracking down a person on-site, which is incredibly time-consuming and error prone. Fieldwire’s mobile platform makes it easy for teams to stay both agile and organized in the field.”



Jim Kim, founder and general partner of Formation 8 said, “With mobile adoption bringing crews online, the construction industry in changing rapidly. To accompany that change, we were looking for founders who had a clear long-term vision and passion for the industry, as well as the capacity to bring intuitive technology to the hands of construction workers.”



“Fieldwire has exactly what we were looking for to be used by our job site staff, and it was easy to learn and use. We tested several products but didn’t like them. They were either too cumbersome, had too few features or were too complicated,” said Manuel Rosas, IT manager and BIM coordinator at Shimizu. “Our field staff used to spend 10 hours a week behind a computer monitor. Now they spend their time where they need to be: at the construction site.”

Further to the funding round, Formation 8’s Tanguy Chau will join the board of directors of Fieldwire bringing along the operational experience scaling companies.