London-based FYLD, a fieldwork effectiveness platform for the infrastructure sector, announced today that NatWest has invested $10 million of growth capital to the company. The partnership will enable expedited investments and continued growth across markets as FYLD scales past the development stage.
Founded in 2020, FYLD is an AI-driven digital platform that field managers use to make data-led decisions and upgrade operational processes and procedures with data.
FYLD's £10M Series A funding round in 2021 was led by Koru, the Ontario Teachers’ Pension Plan’s venture incubator with participation from SGN with a £12M extension led by Ontario Teachers’ Pension Plan in 2023 to take the platform global.
“NatWest’s confidence in us and our market-leading product confirms that our vision is reinventing field workforce execution across the industry,” Shelley Copsey, FYLD’s CEO and co-founder, said.
“This investment will be instrumental in our ability to drive change where it’s most needed as we double down on our U.S. expansion while strengthening our position in the market as we set the stage for our next era of growth, and pave the way toward a more proactive, efficient field workforce.”
Simon Foss, Vice President, Venture & Growth Finance, at NatWest, said:
“This transaction showcases NatWest’s dedication to supporting innovative scale-up businesses, like FYLD, where we aim to build long-lasting partnerships with businesses that are driving innovation and making an invaluable contribution to the growth of the economy. Our financing will support the further expansion of FYLD’s transformational fieldwork software which promotes better safety behaviors and increases productivity and high-quality outcomes through AI-enhanced workflows.”
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