Field service automation startup Zinier has secured $90 million in a Series C round of funding led by investment firm ICONIQ Capital. Besides, the round also witnessed the participation of Tiger Global Management and existing investors, including Accel, Founders Fund, NGP Capital, Newfund Capital, and Qualcomm Ventures LLC.
While the new financing round has taken the Zinier’s total capital raised to $200 million to date, the company is being valued at $500 million reportedly.
This latest investment which was announced by the Bengaluru and San Francisco based startup on its official website, will help to expand its AI-driven field service automation platform-ISAC (Intelligent Service Automation and Control) globally.
Additionally, the company is also eyeing to accelerate its global expansion, including entry into Australia, Brazil, Chile, France, and the Iberian Peninsula with the new funds raised.
The new funding round for the company has come around 8 months after it had raised $22 million in a Series B round of funding led by Accel.
Established in October 2015 by Arka Prava Dhar and Andrew Wolf, Zinier is a provider of intelligent field service automation that helps organizations such as electric and telecom companies to install, fix, and maintain their services through its artificial intelligence and proactive insights.
Zinier’s algorithm- ISAC is known to analyze the organization’s past and present by comparing a constant flow of real-time data against historical trends and allows companies to connect their existing software.
It includes Black & Veatch and Car-Sa among its major clients and has formed strategic partnerships with system integrators including Capgemini and Tata Consultancy Services.
Zinier further claims to have roughly 70 employees globally, around half of its staff is based out of Bengaluru, 15 based in San Francisco, 10 in Mexico City, and 10 in Singapore.
Going further, the company is targeting FSM in the telecom and gas industries along with enabling 5G services worldwide.
Source - Entrackr