Field Nation, the US company which has developed an on-line marketplace matching independent service contractors with project management demands, has secured a $30 million investment led by Susquehanna Growth Equity.
Field Nation has been self-funding since its launch in 2008. It has reported rapid growth of 65% a year and during the past year it has connected more than 1,000 organisations with its network of over 65,000 registered contractors.
The company's on-line marketplace connects independent service contractors and companies needing to get on-site work done. It allows service companies and distributed enterprises to directly procure, manage, pay, report and optimise labour requirements. . The broader platform extends the marketplace through Field Nation Complete, a SaaS solution that delivers a complete work management solution when organisations require the combined experience of their internal and external workforce. It also allows contractors to market their skill sets, find new projects, engage with each other, complete work and get paid quickly.
“We have experienced tremendous growth and success as a small company, and now we’re prepared to start the next chapter of the Field Nation story,” said founder and CEO Mynul Khan. “With the financial support and experience from Susquehanna Growth Equity, we will rapidly accelerate our efforts to introduce Field Nation to organizations of all sizes so they can tap the full breadth of our marketplace and get more work done.” This growth-capital investment validates the business model, strategy and disruptive technology of the Field Nation platform, says the company.
The company plans to increase product development and promotion of its SaaS-based total workforce management solution Field Nation Complete and expand its service offerings into new vertical markets.