Dallas-based FieldPulse, a leading software provider in the field service industry, announced a $21 million Series B funding round led by Fulcrum Equity Partners, the company announced. The round saw continued participation from current investors, Capri Ventures and Superseed Ventures.
Founded in 2015, FieldPulse provides mobile workforce management solutions used by thousands of field service businesses worldwide, according to the company. With tools for scheduling, invoicing, customer relationship management, and more, FieldPulse aims to help field service companies efficiently manage operations.
Now the company is set to ramp up growth. “We’re excited to partner with Jim Douglass and the Fulcrum team on the next leg of our journey. This investment further validates our market-leading product and will enable us to continue our industry-leading support, while also providing the fuel to extend our reach to new customers,” FieldPulse CEO and Co-Founder Gabriel Pinchev said in an emailed statement to Dallas Innovates.
Pinchev said the company is “leveraging the funding, not only for growth, but doubling down on a commitment to delivering the best possible experience.”
In the current funding market, how did FieldPulse draw in investors?
“The funding market is really tough, but we were fortunate to have several great offers. For us, the key was high growth while being capital efficient,” Pinchev told us. “We worked hard in the last year to not only grow faster but reduce our cash burn. It’s part of the team mentality—and something we will continue as we grow.”
FieldPulse said the funding comes at a pivotal time for the company, which has seen “massive growth and customer satisfaction” in recent years. The company plans to use the funding to increase product development, expand the team, and bolster marketing initiatives in a multibillion-dollar market.
“It provides us more capital to continue growing and reinvest into the platform but at the same time always be mindful of efficiency. We’re very well capitalized for our plans the next few years while also maintaining optionality,” Pinchev said. “It really allows us to think long term to do things the right way.”
Fulcrum Equity Partners’ Douglass says the firm’s decision to invest in FieldPulse “stems from a strong belief in their team, technology, and trajectory.”
“In a rapidly evolving industry, FieldPulse has consistently emerged as a frontrunner, setting standards in functionality, usability, and customer satisfaction,” he said. The company has built a market-leading platform with exceptional customer service and an impressive team that’s well positioned for continued strong growth.”
The investment will fund FieldPulse’s rapid growth plan and allow the company to “continue its excellent reputation for serving its customers,” Douglass told Dallas Innovates.
The repeat participation of Capri Ventures and Superseed Ventures in this latest funding round further cements FieldPulse’s position as a major player in the field service sector, the company said.
Crunchbase estimates the company’s total funding to date at $29.2 million over three rounds.
Quincy Preston contributed to this report.
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