Workforce apps startup FieldEZ raises Series A funding from IDG Ventures and IvyCap Ventures
Bangalore-based and US-based FieldEZ Technologies Pvt Ltd, which enables field employees to provide sales, marketing and customer service using mobile handsets, including feature phones, has secured an undisclosed amount in Series A round of funding from IDG Ventures and IvyCap Ventures.
"We will use the money to drive sales in the US and in India. A portion of the funding will also go towards scaling our R&D team," co-founder S Balamurugan told Techcircle.in. "We are not allowed to disclose the amount. All I can say is that IDG and IvyCap contributed equally."
The report first appeared in The Economic Times.
FieldEZ was founded in 2011 by the trio Balasubramanyam Mohan (CEO), Jinaraj P G (CTO) and Balamurugan S (COO). Mohan is an IIM-Calcutta alumnus and comes with more than 14 years' experience in product software companies. He had earlier worked at Eka Software, Demandtec, Ketera, and i2 Technologies.
His partner Jinaraj had previously worked at Cisco, Eka, Ketera Technologies, i2 Technologies and MindTree. The third co-founder Balamurugan had earlier worked at Citibank, NCR, eFunds, Western Union and VISA, prior to co-founding the company.
FieldEZ delivers software solutions that help improve sales, service, delivery and logistics management. Its on-demand solutions include service call management & scheduling, lead management, time & location reporting and travel & expense capture.
The product enables sales people to send instant updates on leads, quotes and orders in real time, while its delivery feature enables pickup/delivery personnel to visit more customers every day with driving directions and receipt of instant updates from office. Its logistics feature provides instant fleet location capture for prompt reply to customer queries and enables communication between the office and truck drivers.
"Currently, we have close to 20 enterprise customers in India and two in the US, most of which are in the banking and after-sales service verticals. We are also working with an NGO in India and a few FMCG companies," said Balamurugan. The company is now looking to expand to South East Asian markets starting next year.
This is IDG's third investment this month. A few days ago, the VC firm invested $3.75 million in Firstcry.com, a hybrid online-offline baby & kids products retailer, along with Vertex Venture Holdings, a venture investment arm of Singapore's sovereign wealth fund Temasek, and SAIF Partners. Early this month, IDG, along with Asian Healthcare Fund and Accel Partners, participated in an $8 million funding round in medical devices company Forus Health. Investments in Firstcry and Forus were additional commitment to existing portfolio firms while FieldEZ adds a new firm to its portfolio.
(Edited by Joby Puthuparampil Johnson)