Series A Round led by Cloud Apps Capital Partners to Support KloudGin’s Goal of Transforming the $9B Field Service and Asset Management Market with Single Solution for All Work Needs
July 29, 2020 09:00 AM Eastern Daylight Time
SUNNYVALE, Calif.--(BUSINESS WIRE)--KloudGin, the leading provider of AI cloud-based field service and asset management solutions, today announced it has closed an $8.2 million Series A funding round from Cloud Apps Capital Partners. Andy Stinnes, Venture Partner of Cloud Apps Capital Partners, will join KloudGin’s board of directors. The funding will be used to accelerate the company's growth and support digital transformation and customer experience in verticals such as energy and utilities, telecom, oil and gas, manufacturing, and other industrial and commercial service markets.
KloudGin Debuts $8.2 Million Series A Round, and Industry-First Cloud Platform that Combines Field Service and Asset Management
Founded by a group of former Oracle executives, the KloudGin platform combines field service and asset management based on a single-cloud architecture that reduces costs and increases reliability and capability by connecting customers, employees and assets with AI powered access to information on any device. Built for the workers who use it most, KloudGin enables companies to reimagine their processes, customer experience and worker productivity to meet the challenges of today and the demands of tomorrow.
KloudGin’s focus on last-mile field worker productivity and end-customer engagement has attracted a variety of enterprise and municipal utility customers including California Water Service. “KloudGin’s mobile field service, asset management, and connected customer solutions enabled Cal Water to measurably improve the efficiency and user experience for our customers and employees,” said Michael Luu, Vice President of Customer Service and CIO, California Water Service. “The KloudGin platform allows us to quickly and effectively schedule our field crews and connect in near real-time with our two million customers.”
“Our suite of products is helping companies address the challenges of managing aging infrastructure and field service operations by allowing customers to quickly create digital-native processes, customer experiences and worker productivity tools that return immediate ROI while unlocking new revenue streams and business models,” said Vikram Takru, co-founder and CEO of KloudGin. “By eliminating traditional information and process silos we enable existing business models to morph to serve new market opportunities and combat competitive threats.“
“This market has long been dominated by outdated and over-engineered on-prem or private cloud solutions that are expensive and inflexible,” said Andy Stinnes, Venture Partner at Cloud Apps Capital Partners. “But enterprise customers are yearning for a modern, mobile-first, pure-cloud solution that allows them to innovate their service and engage an increasingly millennial field service workforce. KloudGin offers the right solution at the perfect time.”
KloudGin’s bench of partners and sell-through channels includes enterprise and mid-market VARs, consultants and vendors including EY, Black & Veatch, PwC, Infosys, HCL, Sage Intacct who rely on KloudGin to deliver outstanding results to their clients and are counted as a critical component of KloudGin’s market traction.
“In a rapidly changing world, it is more critical than ever for enterprises to harness smart, digital technology to help future-proof all aspects of their operations and reinvent service offerings to deliver a better service experience for their customers," said Joe Zhou, Senior Managing Director, Black & Veatch Management Consulting. “KloudGin’s vision of combining asset and field management into one platform helps eliminate data silos, improve cross department efficiency and accelerate the digital transformation of a wide range of critical business initiatives.”
KloudGin is a leader in field service management and asset management solutions, providing a Single Face of Work that connects customers, workers, operations to the business. Customers include California Water Service, Municipal Gas Authority of Georgia, Madison Gas & Electric, Hawaiian Telcom, TETRA Technologies, Sony Interactive Entertainment, among others. Trusted by enterprise companies to transform their processes, customer experience and worker productivity to meet the challenges of today and the demands of tomorrow. For more information visit www.kloudgin.com.
About Cloud Apps Capital Partners
Cloud Apps Capital Partners is a market-focused venture capital firm helping early-stage companies in cloud business application markets build the next generation of global, category-leading businesses. The firm currently manages over $140 million, with investments from university endowments, large foundations, and institutional investors. Cloud Apps Capital Partners has more direct industry, operational and investing experience in building global cloud business application companies than any other early-stage venture capital firm.