- FYLD, a UK-based AI-powered field management platform, secures £12 million funding round.
- Platform utilizes natural language processing, computer vision, and AI to optimize field operations.
- Partnership with SGN demonstrates immediate productivity gains and safety enhancements.
- CEO Shelley Copsey emphasizes the platform’s ability to boost productivity and ensure safety.
- Ontario Teachers’ Pension Plan leads funding, highlighting market recognition of digital transformation in field workforce management.
- Funding to accelerate global expansion, product development, and AI capabilities.
Main AI News:
As the demand for advanced field management solutions intensifies, FYLD, the UK-based AI-powered field management platform, has successfully secured £12 million in funding, propelling its trajectory towards global prominence. This strategic infusion of capital, led by Ontario Teachers’ Pension Plan (Ontario Teachers’), underscores the pivotal role FYLD plays in revolutionizing field workforce operations across critical infrastructure sectors spanning Europe, North America, and South America.
FYLD’s cutting-edge technology harnesses the power of natural language processing, computer vision, and artificial intelligence to deliver real-time insights and optimize operational efficiency for companies engaged in utilities, heavy civil construction, and highway maintenance. By analyzing on-the-ground activities, FYLD empowers managers and operational teams to make informed decisions, mitigate risks, and drive project completion with unparalleled efficacy.
Shelley Copsey, CEO & Co-Founder of FYLD, emphasized the transformative impact of their platform, stating, “At FYLD, our mission is to empower every fieldworker to maximize productivity while ensuring their safety. Through our AI-driven analytics, we minimize idle time, facilitate remote management, and proactively address site risks, resulting in tangible productivity gains of over 8% within just six weeks for our clients.“
The partnership between FYLD and SGN, a UK-based gas utility under Ontario Teachers’ infrastructure portfolio, served as a testament to the platform’s efficacy, yielding immediate productivity enhancements and a significant reduction in workplace incidents and injuries. Copsey highlighted the urgent need for innovative solutions in the infrastructure sector, asserting that existing software solutions are inadequate for addressing evolving operational challenges.
Ontario Teachers’ Pension Plan (Ontario Teachers’), a renowned investor in global infrastructure assets, recognized the imperative for digital transformation in field workforce management amidst labor shortages, inflationary pressures, and regulatory complexities. Dale Burgess, Executive Managing Director of Infrastructure & Natural Resources at Ontario Teachers’, affirmed the commitment to accelerating FYLD’s global expansion and enhancing its AI-driven predictive analytics platform to meet evolving industry demands.
With a total funding of £26 million to date, FYLD is poised to capitalize on its momentum, driving exponential growth and solidifying its position as an industry leader. The influx of capital will fuel the expansion of FYLD’s commercial operations, expedite product development initiatives, bolster its AI capabilities, and facilitate market penetration across diverse geographical regions, ushering in a new era of efficiency and innovation in fieldwork management.
Conclusion:
The £12 million investment in FYLD signifies growing market recognition of the imperative for digital transformation in field workforce management across critical infrastructure sectors. With enhanced funding, FYLD is poised to spearhead innovation, drive efficiency gains, and solidify its position as a leader in the field management solutions market, catering to the evolving needs of companies worldwide.
