FieldLens Raises $1.925 Million Developing Technology to Save the U.S. Construction Industry $40 Billion a Year

NEW YORK, Sept. 18, 2012 /PRNewswire/ -- FieldLens – a mobile technology designed for the construction industry – announced a total seed investment of $1.925 million.  FieldLens will use this investment to continue developing a communication platform providing construction industry personnel real-time mobile access to all critical jobsite data, saving the industry an estimated $40 billion in costs wasted from inefficient communication.

The round is co-led by High Peaks Venture Partners and Softbank Capital, and also includes Quotidian Ventures, NYC Seed and Contour Venture Partners, and strategically chosen angel investors including Tom Falus, former President of Cushman & Wakefield, Ryan Moore of Atlas Venture, Simon Hopkins of New York Angels, Ed Tolson of New York Angels, and Rick Webb, co-founder of The Barbarian Group. The amount raised includes a $300,000 angel investment secured in December 2011, led by Quotidian Ventures.

Brad Svrluga of High Peaks Venture Partners said, "The construction industry is sitting on the front edge of a powerful transformation, as ubiquitous smartphone penetration creates opportunity to completely change how communication, task management, and data collection happens in the field. The era of the clipboard is ending, and I fully expect FieldLens will lead this transformation. Their platform is improving communication, reducing errors and associated costs, and generating powerful data and insights that are changing the way field management is done. We are thrilled to join Doug and his team on what we expect will be an exciting and disruptive journey."

FieldLens technology provides simple mobile access to jobsite data, allowing faster responses to issues that typically would require massive amounts of paperwork, emails, faxes, and site visits. FieldLens streamlines communication using familiar tools like video, tagging, and touch screen to convey field issues. FieldLens' intuitive process is the construction professionals' mobile solution to managing interaction among managers, contractors, architects, engineers, design consultants, and real estate developers, along with secondary service providers like construction attorneys and accountants.

According to FieldLens CEO Doug Chambers, choosing investors who understand the need to fill a communication gap in the construction industry was crucial. "I worked as a construction project manager for more than a decade, and no matter where I worked, from small interior projects to huge skyscrapers, communication problems were all the same. The construction industry lacks reliable means of keeping track of and conveying field issues between the different stakeholders on a given project."

FieldLens is in private beta and expects to be available for open beta by November 2012.  

About FieldLens

FieldLens (www.fieldlens.com) is a communication platform designed for the construction industry, and can be accessed from any mobile device. It was founded in 2011 by Doug Chambers, Matt Sena and David Small, when Doug, a construction industry expert whose management experience includes the New York Times building, became frustrated by the industry's ineffectual communication. FieldLens allows construction project teams real-time mobile access to all critical job-site data.

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SOURCE FieldLens