How Much Did Fieldwire Raise? Funding & Key Investors

Fieldwire has successfully raised funding over five rounds, with the latest being a Series C round. The company is backed by 13 investors, including Formation 8, Peak State Ventures, and Menlo Ventures.

Fieldwire's platform offers comprehensive jobsite management solutions, facilitating real-time collaboration and information sharing among construction teams. Keep reading to explore the intricacies of Fieldwire's fundraising journey and the investors backing this innovative platform.

What Is Fieldwire?

Fieldwire is a field management platform that offers a wide range of device-agnostic features for general and specialty contractors. The company operates in various industries, including collaboration, construction, enterprise software, mobile, project management, and SaaS. It is based in San Francisco, California, and has an employee count ranging from 101 to 250.

Acquired by HILTI, Fieldwire aims to streamline construction projects by enabling real-time collaboration and information sharing among project teams. The software is used by over 4,000,000 jobsites worldwide, offering features such as task management, scheduling, punch lists, inspections, RFIs, submittals, change orders, budget management, and document management.

How Much Funding Has Fieldwire Raised?

1. Convertible Note
   • Amount Raised: USD 1,100,000
   • Date: January 2013
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To secure initial funding for product development and market entry.
2. Seed
   • Amount Raised: USD 1,100,000
   • Date: February 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the platform and expand the team.
3. Series A
   • Amount Raised: USD 6,600,000
   • Date: October 2015
   • Lead Investors: Formation 8
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product features.
4. Series B
   • Amount Raised: Not publicly disclosed
   • Date: February 2018
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support growth and market expansion.
5. Series C
   • Amount Raised: USD 33,500,000
   • Date: September 2019
   • Lead Investors: Menlo Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To fuel R&D and increase international expansion.

Total Amount Raised: USD 41,200,000. Current Valuation: Not publicly disclosed.

Key Investors

• Menlo Ventures
  • Details: Menlo Ventures is a venture capital firm that invests in various stages of companies, focusing on technology and healthcare sectors. They led Fieldwire's Series C funding round.
  • Investment Focus Areas: Technology, healthcare, consumer services.
  • Notable Investments: Uber, Roku, Warby Parker.
• Formation 8
  • Details: Formation 8 is a venture capital firm that invests in early-stage technology companies. They were involved in Fieldwire's Series A and Series C funding rounds.
  • Investment Focus Areas: Early-stage technology companies.
  • Notable Investments: Oculus VR, RelateIQ, Illumio.
• Brick & Mortar Ventures
  • Details: Brick & Mortar Ventures is a venture capital firm that invests in emerging companies developing innovative software and hardware solutions for the built environment. They participated in Fieldwire's Series C funding round.
  • Investment Focus Areas: Construction technology, architecture, engineering.
  • Notable Investments: Rhumbix, BuildingConnected, ManufactOn.
• Hilti Group
  • Details: Hilti Group is a multinational company that develops, manufactures, and markets products for the construction, building maintenance, energy, and manufacturing industries. They participated in Fieldwire's Series C funding round.
  • Investment Focus Areas: Construction, building maintenance, energy, manufacturing.
  • Notable Investments: Not specified.

What's Next for Fieldwire?

Fieldwire stands at the cusp of significant growth opportunities, driven by the increasing digitization of the construction industry. With a $12 trillion market and the construction sector representing 10% of the world's GDP, the potential for expansion is immense. The company plans to leverage its recent $33.5 million funding to enhance its software offerings and expand internationally, including new offices in Australia.

Future fundraising opportunities appear promising, given Fieldwire's strong market position and profitability. The company’s ability to attract further investment will likely be bolstered by its ongoing R&D initiatives and expanding customer base. However, challenges such as ensuring technology adoption in the field and competing with established players like PlanGrid and Autodesk remain. Maintaining customer-focused service while scaling operations will be crucial for sustained success.

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