Spatial Networks, the creator of Fulcrum, a geospatial data collection and analysis platform for field operations, closed a $42.5 million Series A funding round led by Kayne Partners, the growth equity group of Kayne Anderson Capital Advisors and Kennet Partners.
The company plans to use the new funds to scale its sales and marketing capabilities, accelerate its product development roadmap, and further expand the Fulcrum data collection platform into international markets.
According to the company, using its AI-powered geospatial data intelligence software platform – Fulcrum, field workers can rapidly gather a vast range of data types – including audio and video – using user-built forms with geotagging capabilities. Key decision-makers gain real-time insights into field operations efficiency and performance through visualization, quality assurance and data management tools, and flexible reporting.
More than 30,000 users and 2,100 customers in field-intensive industries such as utilities, construction, environmental services, and engineering use Fulcrum to enhance their customers’ experiences, increase efficiency, and maximize performance.
Jim Grady, CEO, Spatial Networks, said: “I look forward to building on the company’s impressive product and market position as we deliver even greater insight and workflow automation through next-generation innovations that harness AI, low-code/no-code deployment, geospatial data collection and analytics, and an advanced reporting engine to establish Fulcrum as the industry’s dominant field force data intelligence platform.”
Image Credit: Spatial Networks