Parsable is a San Fransisco-based startup that has developed a connected worker platform with an aim to help bring high tech solutions to deskless industrial workers who have been working mostly with paper-based processes.
Now, the company has announced that it has raised $40 million Series C funding round to keep building on that idea. The funding round was led by Future Fund with help from B37 and existing investors Lightspeed Venture Partners, Airbus Ventures, and Aramco Ventures. With this new funding round, the total investment raised by the company so far has reached $70 million.
In the era of artificial intelligence and robots taking away industrial jobs, Parsable, a San Fransisco-based startup sees a different reality, one with millions of workers who for the most part have been left behind when it comes to bringing digital transformation to their jobs.
Explaining the role of the company, Lawrence Whittle, CEO of the company, said, “what we are doing is getting rid of [paper] notebooks for quality, safety and maintenance and providing a digital guide on how to capture work with the objective of increasing efficiency, reducing safety incidents and increasing quality.”
The Parsable solution works on almost any smartphone or tablet and is designed to enter information while walking around in environments where using a desktop PC or laptop wouldn’t be practical.
The company, launched in 2013, underwent a long period of primary research as they wanted to give industrial workers something they actually needed, not what engineers thought they needed. The goal was making it feel as familiar with Facebook or texting, common applications that even older workers were used to.
The company has also decided to make the platform flexible so that it can keep adding new technology over time. According to the company, it has 30 enterprise customers with 30,000 registered users on the platform. The company’s customers include Ecolab, Schlumberger, Silgan, and Shell among others. They have around 80 employees but expect to hit 100 by the end of Q3 this year.