Bengaluru, 06th September 2021- Fieldproxy, a no-code SaaS platform for improving productivity of field teams, today announced that it has raised 2 crores as part of its seed round. The current round saw participation from LetsVenture, 2am VC, magic.fund (which marks its entry into India with the current investment in Fieldproxy) . Other marquee angel investors like KRS Jamwal executive director, Tata Industries, Ajit Deshpande Vice President of Demand Generation at Marqeta, Inc, Kushal Khandwala, Director at KIFS Housing Finance Limited, Asad Daud, Director, SAT Industries, Nilesh Patel, Principal, Cisco Systems, Ketan Kothari, Managing Director Sigma Byte, Shreya Rao, Partner, AZB & Partners and others also participated in the round. Fieldproxy had earlier raised 25 Lakhs as part of its seed round from 100x.vc in March 2021 and was part of their class 04. The company has raised 2.25 crores till date.
Fieldproxy founded by Swaroop Vijayakumar an IIM Kozhikode alumnus who had earlier worked Innoz, Stayzilla & Cartesian Consulting where he led the analytics and product teams and Balakrishna B an alumnus of BITS Pilani, had worked as part of the tech team at Stayzilla where he helped in building systems that handled over a million monthly unique visitors per month.
Despite rising demand from an increasingly tech-savvy homeowner, business service providers have no visibility into their customers, contracts, payments or field technicians. Fieldproxy helps these businesses by providing a convenient way for them to build fully functioning apps – without writing a single line of code – in order to simplify their workflow and manage their field force.
“As the first institutional investor in FieldProxy, we are delighted to see the response from investors. We believe that FieldProxy has a world class solution to improve productivity for organisations with a field force. With its no-code platform, organisations can quickly implement the product and reap its benefits. FieldProxy has the capability to become a true leader in this space” Ninad Karpe, Partner, 100X.VC
Furthermore, over 53% of frontline workers use consumer apps like Whatsapp and google forms/sheets to get work done on a daily basis. This indicates not only an increasing need for consumer-first, enterprise efficient technologies to get work done but also a lack of alternatives among existing enterprise technology. FieldProxy has built a proven track record of effectively and efficiently catering to this unmet industry requirement, with reputed clients such as ITC, BIC and Royal Haskoning DHV leveraging the company’s software to manage their field force.
Commenting on the fundraise, Swaroop Vijayakumar, Co-founder & CEO Fieldproxy said, “We are overwhelmed by the encouraging response to our funding round and the confidence investors have in our potential in creating the first no-code app builder for field teams. Flexible, no-code platforms are the future and have transformed the way many desk teams work. We intend to be at the forefront of this transformation for businesses in field-first industries such as field servicing, consumer goods, pharma, energy and infrastructure.”
Commenting on the fundraise, Sunitha Ramaswamy, President, Early Stage, LetsVenture Said “Covid has accelerated multiple industries that we cater to. For example, today, due to COVID the time we spend at home has reached record highs and there is a need to ensure that our home life support systems are always running. There are 5 million home servicing businesses who ensure their field technicians are always available to keep these essential services up and running. These businesses are currently being managed through pen, paper, emails, whatsapp, and phone calls. We at LetsVenture are looking forward to working with Swaroop and his team who are working towards building a no-code SaaS platform that will enable businesses to manage a field servicing team”
“The digitization of our workforces is inevitable. Fieldproxy’s low-code and mobile-focused approach makes it easy for even the oldest industries to adopt. The next 10 years is really going to be about the rise of the east. Magic Fund is very bullish on India and SEA because of its large and young population that see STEM & entrepreneurship as a path to improve their lives and improve their home countries.” added Thomas Chen, General Partner at Magic Fund.
With around 65% of business applications expected to be no/low code by 2024, Fieldproxy is primed for strong long-term growth, given the flexibility and wide range of application of its technological infrastructure.