INSUBCONTINENT EXCLUSIVE:
Zinier, a startup that is bringing automation to the field service management realm, announced today that it has raised $90 million in
fresh funding as it looks to tackle new categories and court more clients.The San Francisco-based startup said its $90 million Series C
financing round was led by ICONIQ Capital, and saw participation from Tiger Global Management and existing investors Accel, Founders Fund,
total raise to $120 million, and valued it above $500 million, one of its investors told A Technology News Room
Zinier co-founder and chief executive Arka Dhar declined to comment on the valuation.Zinier is helping the electricity and telecom
industries automate their field services, a job that has typically innovated slowly and relied on legacy systems and manual processes, Dhar
dispatching, matching the right person with the right task at the right location, and at the end, verifying the task
the major Zinier clients, but said some of the biggest players in the electricity and telecoms businesses work with the startup
The startup said it works with Black - Veatch and Car-Sa, and maintains strategic partnerships with system integrators such as Capgemini and
Tata Consultancy Services.Until two years ago, Zinier focused on the telecom industry, but has since expanded to serve energy and utility
The fresh fund would help the startup double down its efforts in non-telecom industries, Dhar said.A number of players are working on the
field service management space
Major giants such as Salesforce and Microsoft own stakes in firms that operate in this industry and also offer their own products
ServiceMax was earlier acquired by GE Digital for $915 million
Without calling names, Dhar cautioned that some of its competitors are merely digitizing the pen and paper logs, and are not really
platform-based technology and team to take on this global, multi-industry market
said Will Griffith, partner at ICONIQ Capital.
