Spatial Networks Announces $42.5 Million Series A Financing Round from Kayne Partners and Kennet Partners

USA - English

• USA - English

ST. PETERSBURG, Fla., Jan. 7, 2020 /PRNewswire-PRWeb/ -- Spatial Networks, the creator of Fulcrum, the leading geospatial data collection and analysis platform for field operations, today announced that is has closed an investment of $42.5 million led by Kayne Partners, the growth equity group of Kayne Anderson Capital Advisors, L.P., and Kennet Partners, Ltd. The funding will primarily 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. The company has appointed Jim Grady CEO to oversee all aspects of the company's strategy and execution globally.

Spatial Networks drives digital transformation of field workforces via Fulcrum, an AI-powered data collection platform for commercial field workers. A market-leading platform built on multiple decades of expertise in mobile field data collection and geospatial analytics with adoption by more than 30,000 users and 2,100 customers in field-intensive industries such as utilities, construction, environmental services, and engineering, Fulcrum optimizes field operations by enabling rapid deployment of mobile applications using a low-code development environment. Using Fulcrum, field workers can rapidly gather a vast range of data types—including audio and video—using user-built forms with geotagging capabilities. Key decision-makers gain real-time insights into field operations efficiency and performance through visualization, quality assurance and data management tools, and flexible reporting.

With the completion of the deal, Jim Grady will assume the role of CEO, effective immediately. Grady brings more than 25 years of general management and leadership experience in high-growth technology companies to Spatial Networks. As CEO of Cellebrite, Inc., a leading provider of cyber/digital intelligence software solutions—including mobile phone forensic extraction and AI-driven analytics product lines for law enforcement, enterprise, and intelligence sectors—Grady scaled revenue from $5M to $100M while consistently expanding profit margins.

"Spatial Networks is uniquely positioned to transform the way organizations deploy and manage field workforces to better deliver superior customer experiences while increasing efficiency and profitability," said Jim Grady, CEO, Spatial Networks. "I look forward to building on the company's impressive product and market position as we deliver even greater insight and workflow automation through next-generation innovations that harness AI, low-code/no-code deployment, geospatial data collection and analytics, and an advanced reporting engine to establish Fulcrum as the industry's dominant field force data intelligence platform."

Nate Locke of Kayne Partners commented, "We are thoroughly impressed by Spatial Networks' rapid growth and user adoption. The company provides incredible value both for users in the field who now have a streamlined, robust data-collection process, and for decision makers who now have access to contextually relevant information and geospatial insights."

"We are excited about the potential of Spatial Networks to build on its core capabilities in workflow automation, no-code development and geospatial data to optimize field-work forces using AI in a broad range of markets,'' said Javier Rojas, Managing Partner, Kennet Partners. "We believe the combination of Spatial's founding team, executives from Jim's prior successes and Jim's leadership will enable the company to scale rapidly and build a category leader."

About Spatial Networks:

Headquartered in St. Petersburg, Florida, Spatial Networks, Inc. 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 customizable, fast, and flexible data collection, reporting, and analysis for fieldworkers and managers to enhance their customers' experiences, increase efficiency, and maximize performance. For more information, please visit: spatialnetworks.com

About Kayne Partners Fund:

Kayne Partners, the Los Angeles-based dedicated growth private equity group of Kayne Anderson Capital Advisors, L.P., is a leading provider of capital and connections to privately held, high growth, enterprise software and tech-enabled service businesses in North America. Kayne Partners seeks to partner with driven entrepreneurs and provide capital to high growth companies at a transformative point in their life cycle in the following industries: security & compliance, supply chain & logistics, financials, business process automation, healthcare, and media & telecom. Kayne Anderson Capital Advisors, L.P. is a leading alternative investment management firm focused on niche investing in energy, infrastructure, real estate, credit, and growth equity. Kayne manages over $30 billion in assets and employs 400 professionals in five offices across the U.S.

For more information, please visit: kaynepartners.com

About Kennet Partners:

Founded in 1997, Kennet Partners is a Silicon Valley and London-based growth equity investor with $900 million under management. Kennet focuses on partnering with bootstrapped and fast-growing SaaS and tech-enabled services businesses with a focus on predictive analytics and AI and has a track record of building global market leaders and achieving high-value exits. For more information, visit kennet.com

SOURCE Fulcrum