The U.K.-based company raised the capital from NatWest, a British financial institution. FYLD has raised more than $44 million since its founding in 2020, according to Crunchbase.
The company says its digital platform “empowers field managers to make proactive, data-led decisions in real time and transform operational processes and procedures with data.”
The funding round is the second infrastructure-related deal in recent weeks in government technology.
In October, OpenGov, best known for its budgeting, planning and procurement tools, announced a partnership with pipeline inspection firm ITpipes. The deal resulted from an OpenGov gov tech acquisition in 2022.
FYLD will use the capital in part to expand into North America, Shelley Copsey, FYLD’s CEO and co-founder, told Government Technology via email.
“We will help utilities and construction organizations move from reactive to proactive with data, predictive analytics and 100 percent real-time visibility into field operations, all with a fieldworker-first mindset, Copsey said. “Too many digital solutions for these industries to date have focused on the back office, and that’s not where the real transformation will happen.”
She brought up a recent call in the U.S. to replace lead pipes as an example of an opportunity for this company — an effort backed by some $2.6 billion of federal funding.
The new funding also could get the company closer to local and state governments via the expansion of what Copsey called “our customer-focused teams” that can show those agencies the value of better fieldwork technology and analytics.
“When these organizations choose modernization there are better outcomes for all stakeholders,” Copsey said. “For example, utilities [can] get ahead of issues like lead pipes before they become a public safety issue or increased vegetation that can lead to outages during extreme weather. All of this protects the public purse.”
Copsey said FYLD already is in “project discussions” with municipally owned operations in the U.S.
