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The funding came just over ten months after the startup secured its Series B. With the newly raised funds, the startup is planning to tackle new categories and court more clients.
FREMONT, CA: Zinier, a leader in intelligent field service automation, raised $90 million in fresh funding. The funding came just over ten months after the startup secured it's Series B. The San Francisco-based startup raised a total of $120 million in its five-year journey. The Series C funding was led by ICONIQ Capital and saw participation from Tiger Global Management and existing investors Accel, Founders Fund, Qualcomm Ventures, Nokia-backed NGP Capital, and France-based Newfund Capital. With the newly raised funds, the startup is planning to tackle new categories and court more clients.
Arka Dhar and Andrew Wolf incorporated Zinier in October 2015 and started to build the giant business in late 2016. The company's self-declared mission is to help enterprises "work smarter and more efficiently with an artificial intelligence (AI)-powered field service workforce."
"Field service means everything that happens from work of origination, their scheduling, and dispatching, matching the right person with the right task at the right location, and at the end, verifying the task. It's a complex, manual, and disparate system. It typically sees 20% of our client's expenses. We are optimizing these processes with AI to help these clients become more efficient and save money," said Dhar.
Zinier, being the field service automation leader, is helping the electricity and telecom industries automate their field services, a job that has usually innovated slowly and relied on legacy systems and manual processes. The ISAC platform of Zinier helps match jobs with the most-skilled engineers for the nature of work so that once dispatched, the work is more likely to be completed in the first instance. A high first-time-fix rate is desirable because it saves companies money and time.
"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," said Will Griffith, partner at ICONIQ Capital.
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