Spatial Networks, the St. Petersburg, FLA.-based creator of Fulcrum, a geospatial data collection and analysis platform for field operations, raised $42.5m in Series A funding.
The round was led by Kayne Partners, the growth equity group of Kayne Anderson Capital Advisors, L.P., and Kennet Partners, Ltd.
The funding will 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.
Led by newly appointed CEO Jim Grady, Spatial Networks develops and provides AI-powered geospatial data intelligence solutions that transform field force operations. Since its inception, the company has offered products and services to collect, analyze, and manage ground collected geospatial data. The Fulcrum software platform allows data collection, reporting, and analysis for fieldworkers and managers to enhance their customers’ experiences, increase efficiency, and maximize performance. The platform has been adopted by more than 30,000 users and 2,100 customers in field-intensive industries such as utilities, construction, environmental services, and engineering.