- Spatial Networks announced it has raised $42.5 million led by Kayne Partners and Kennet Partners, Ltd.
Spatial Networks — the creator of Fulcrum (leading geospatial data collection and analysis platform for field operations) — announced recently that it closed an investment of $42.5 million led by Kayne Partners and Kennet Partners, Ltd. Fulcrum is a market-leading platform built on multiple decades of expertise in mobile field data collection and geospatial analytics with adoption by over 30,000 users and 2,100 customers in field-intensive industries such as utilities, construction, environmental services, and engineering.
And Fulcrum optimizes field operations by enabling rapid deployment of mobile applications using a low-code development environment. With Fulcrum, field workers can rapidly gather a vast range of data types, including audio and video, using user-built forms with geotagging capabilities. And key decision-makers gain real-time insights into field operations efficiency and performance through visualization, quality assurance and data management tools, and flexible reporting.
This round of funding will primarily be used to scale the company’s sales and marketing capabilities, accelerate its product development roadmap, and further expand the Fulcrum data collection platform into international markets. Plus the company also appointed Jim Grady as chief executive officer at Spatial Networks.
“Spatial Networks is uniquely positioned to transform the way organizations deploy and manage field workforces to better deliver superior customer experiences while increasing efficiency and profitability,” said Grady. “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.”
Grady has over 25 years of general management and leadership experience in high-growth technology companies to Spatial Networks. And as CEO of Cellebrite, a leading provider of cyber/digital intelligence software solutions — including mobile phone forensic extraction and AI-driven analytics product lines for law enforcement, enterprise, and intelligence sectors — Grady scaled revenue from $5M to $100M while consistently expanding profit margins.
“We are thoroughly impressed by Spatial Networks’ rapid growth and user adoption. The company provides incredible value both for users in the field who now have a streamlined, robust data-collection process, and for decision-makers who now have access to contextually relevant information and geospatial insights,” added Nathan Locke, Partner at Kayne Anderson Capital Advisors, L.P.
Based out of St. Petersburg, Florida, Spatial Networks develops and provides AI-powered geospatial data intelligence solutions that transform field force operations. Since being founded, Spatial has offered products and services to collect, analyze, and manage ground collected geospatial data.
And the Fulcrum software platform allows customizable, fast, and flexible data collection, reporting, and analysis for fieldworkers and managers to enhance their customers’ experiences, increase efficiency, and maximize performance.
“We are excited about the potential of Spatial Networks to build on its core capabilities in workflow automation, no-code development and geospatial data to optimize field-work forces using AI in a broad range of markets,” explained Javier Rojas, Managing Partner at Kennet Partners. “We believe the combination of Spatial’s founding team, executives from Jim’s prior successes and Jim’s leadership will enable the company to scale rapidly and build a category leader.”
Trending on Pulse 2.0
- VMware Finalizes The $2.7 Billion Acquisition Of Pivotal
- PwC Reveals Why Its $3 Billion Upskilling Program Is Important For Society
- LinkedIn CEO Jeff Weiner: 'Satya Has Made Good' On Microsoft's Acquisition Agreement
- How Google Is Using AI To Improve Breast Cancer Screening
- Pepsi Has A New Tagline: ‘That’s What I Like’