FYLD Secures $10M Funding from NatWest for Infrastructure Data Management

London-based FYLD, a pioneering platform focused on enhancing fieldwork effectiveness within the infrastructure sector, has recently announced a substantial investment from NatWest, which is providing $10 million in growth capital. This strategic partnership is anticipated to expedite FYLD's investment capabilities and facilitate its ongoing expansion across diverse markets, as the company transitions beyond its developmental phase.

Founded in 2020, FYLD is at the forefront of utilizing artificial intelligence to create a digital platform that empowers field managers to make informed, data-driven decisions. The platform is designed to enhance operational processes and procedures through the integration of real-time data analysis, enabling organizations to streamline their workflows and improve efficiency in field operations. By harnessing advanced technology, FYLD aims to transform how businesses manage their fieldwork, ensuring that they can respond more effectively to challenges and optimize their operations.

In its earlier funding endeavors, FYLD successfully completed a £10 million Series A funding round in 2021, led by Koru, the venture incubator associated with the Ontario Teachers’ Pension Plan. This round also saw participation from SGN, which contributed to the platform's initial growth. In 2023, FYLD further bolstered its financial standing with a £12 million extension led by the Ontario Teachers’ Pension Plan, paving the way for the platform's global outreach and expansion.

Shelley Copsey, the CEO and co-founder of FYLD, expressed her enthusiasm regarding the recent investment, stating, “NatWest’s confidence in us and our market-leading product confirms that our vision is reinventing field workforce execution across the industry.” Copsey emphasized the crucial role this funding will play in enabling the company to drive impactful change where it is most needed. She highlighted FYLD’s ambitions to double down on its expansion efforts in the U.S. market while simultaneously strengthening its foothold in existing markets. By doing so, the company aims to set the stage for its next phase of growth, ultimately leading to a more proactive and efficient field workforce equipped to meet the demands of modern infrastructure challenges.

Simon Foss, Vice President of Venture & Growth Finance at NatWest, elaborated on the bank’s commitment to supporting innovative scale-up businesses like FYLD. He stated, “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.” Foss articulated that the financing will not only facilitate the expansion of FYLD’s transformational fieldwork software but also promote better safety practices and boost productivity through AI-enhanced workflows.

The partnership with NatWest marks a significant milestone for FYLD as it continues its mission to redefine the landscape of fieldwork effectiveness. The company is poised to integrate advanced technology solutions that address the evolving needs of the infrastructure sector, thus enabling organizations to achieve operational excellence. With NatWest’s backing, FYLD is strategically positioned to drive further innovation and reach its ambitious growth objectives, ensuring that it remains a leader in the fieldwork effectiveness arena.

As FYLD moves forward, the implications of this investment extend beyond immediate growth; they encompass a broader vision for the future of field operations in the infrastructure sector. By prioritizing data-driven decision-making and operational efficiency, FYLD aims to empower organizations to navigate the complexities of modern infrastructure challenges while promoting a safer and more productive working environment. The company's commitment to leveraging cutting-edge technology to support field managers reflects a growing recognition of the critical role that innovation plays in shaping the future of work in the infrastructure domain.