SAN FRANCISCO, CA, Fieldwire, a mobile and web platform designed to make collaboration on construction projects more efficient, secured $6.6 million in financing led by Formation 8.
The round included participation from BloombergBeta, Trinity Ventures and AngelPad. With the mass adoption of mobile devices by workers in the construction industry, Fieldwire's mobile collaboration platform capitalizes on the billions wasted every year onsite due to poor execution.
Currently within the $8 trillion construction industry, 90 percent of projects finish late or over budget, wasting millions of dollars and thousands of hours due to inefficiency. In fact, 30 percent of time spent onsite is unproductive. Fieldwire eliminates this inefficiency by giving field workers a powerful, yet simple, way to communicate and organize their assignments in the field.
'Construction is an industry stuck in the 1960s in terms of productivity,' said Yves Frinault, co-founder and CEO of Fieldwire. 'To collaborate, people still rely heavily on paper, whiteboards and physically tracking down a person on-site, which is incredibly time consuming and error prone. Fieldwire's mobile platform makes it easy for teams to stay both agile and organized in the field.'
Fieldwire was designed with the foreman in mind to cover all of the core field use cases on one platform. Some of the features of Fieldwire include the following:
One mobile app for the field: This all-inclusive app provides mobile plan viewing, issue tracking, task scheduling, progress photos, as well as reporting and archiving.
Fast plan viewer: Large plans load instantly on mobile devices, enabling anyone to access the most up-to-date drawings.
Task management engine: Recording, sharing and tracking tasks is effortless and nothing falls through the cracks.
Offline mode: Users can keep working, viewing plans and making assignments - even with no connectivity. The app will sync automatically when back on the network.
Integrations: Fieldwire integrates natively with Box and Dropbox, as well as your Gmail contacts making project setup a breeze.
Big data API: Construction firms can connect Fieldwire's field data to their existing technology, turning it into the mobile extension of their IT suite.
'With mobile adoption bringing crews online, the construction industry is changing rapidly,' said Jim Kim, founder and general partner of Formation 8. 'To accompany that change, we were looking for founders who had a clear long-term vision and passion for the industry, as well as the capacity to bring intuitive technology to the hands of construction workers.'
'Fieldwire has exactly what we were looking for to be used by our job site staff, and it was easy to learn and use. We tested several products but didn't like them. They were either too cumbersome, had too few features or were too complicated,' said Manuel Rosas, IT manager and BIM coordinator at Shimizu. 'Our field staff used to spend 10 hours a week behind a computer monitor. Now they spend their time where they need to be: at the construction site.'
In conjunction with this funding event, Formation 8's Tanguy Chau will join Fieldwire's board, bringing his operational experience scaling companies.
To learn more about Fieldwire, please visit www.fieldwire.com.
Fieldwire is a field management platform that brings visibility and accessibility to thousands of field workers onsite every day. With more than 35,000 projects created to date, Fieldwire has already saved the construction industry millions of dollars in inefficiency. As a leading software provider for the construction industry, Fieldwire was selected by Apple to become an enterprise mobility partner. The company was founded in 2013 by Stanford and MIT alums Yves Frinault and Javed Singha. Their aim is to revolutionize the construction industry with a field first approach to mobile technology.
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