By Peerzada Abrar
BANGALORE: IDG Ventures, which manages an over $6-billion ( Rs 36,888-crore) venture fund, has invested an undisclosed amount in Bangalore-based FieldEZ Technologies. New investor IvyCap Ventures also participated in this first funding round.
The startup has developed software that enables field employees like engineers and sales persons to provide sales, marketing and customer service using their smartphones and low-end phones.
FieldEZ provides this technology to about 15,000 professionals in industries such as information technology, banking, financial services and fast-moving consumer goods. It will use the funds to drive sales in the United States and South East Asia besides India.
"We aim to be a world-class product company out of India doing a 'million dollar per employee revenue'," said Balasubramanyam Mohan, chief executive of FieldEZ.
An alumnus of IIM-Calcutta, Mohan, 40, cofounded the firm in 2011 along with his former colleague at Eka Software Jinaraj P Gopalan and Balamurugan S who held various leadership positions at Citibank, Western Union and Visa.
Mohan said FieldEZ is well positioned to capitalise on a multi-billion dollar opportunity of serving a global mobile workforce set to reach 1.3 billion field workers across different industries by 2015.
The mobile-based solution provides real-time field insights to the management such as visits or orders per day. The company is also able to provide instant feedback to field staff.