Fieldwire just raised $33.5 million more to give PlanGrid and its new owner Autodesk a run for their money
Fieldwire, which makes task management software for construction teams on commercial projects that helps organize everyone involved so things don’t fall through the figurative (or literal) cracks, has raised $33.5 million in Series C funding. Menlo Ventures led the round, joined by Brick & Mortar Ventures, Hilti Group and Formation 8.
It isn’t a huge amount of money. Still, the traction Fieldwire is enjoying might give the folks at Autodesk some pause, given the growing threat it presents to PlanGrid, a rival that Autodesk acquired last year for $875 million.
Already, six-year-old Fieldwire has 65 employees, with 45 of them in San Francisco and the rest in Phoenix, plus a smaller outpost in France. And founder and CEO Yves Frinault says the company expects to have closer to 150 employees by next summer.
Fieldwire is also “cash profitable,” he says, “meaning our bank account goes up every month, even though we started going fast.” To underscore his point, he notes that when we last talked with him in 2015, the company’s platform was hosting 35,000 projects; it has since hosted half a million altogether, with more than 2,000 unique paying customers on the platform. Many of them pack a
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