Shekhawat founded Fieldglass Raises $11 M

By siliconindia staff writer   |   Friday, 21 January 2005, 08:00 Hrs
Printer Print Email Email
CHICAGO: Fieldglass Inc., today announced an $11 million round of funding, led by new investor Grotech Capital Group. Existing investors BlueStream Ventures, StarVest Partners, and HLM Venture Partners also participated in the oversubscribed round.

“Fieldglass has established itself as the premier software solution provider in the field of services procurement, which is a corporate function that is only growing more important and complex in today’s business environment,” said Patrick Kerins, general partner with Grotech Capital Group and a new member of the Fieldglass board of directors.

“Fieldglass has demonstrated the ability to predictably deliver significant savings and operational value to its clients.”

Fieldglass is the leading provider of services procurement software solutions. Its application, InSite, is a Web-based, hosted solution platform that enables companies to more effectively manage the complexities of global services procurement.

Fieldglass’ customers include some of the world’s largest firms in industries such as financial services, telecom, pharmaceuticals, engineering, technology,healthcare, and manufacturing.

“The additional capital will be used to support a significant expansion of our sales and marketing initiatives, and help maintain our product leadership position,” said Jai Shekhawat, Fieldglass CEO and cofounder.

IBM announces programme
n a bid to recognise the contribution of developers in the open source community, Information ..
Google's Gboard gets offline
Google is adding an Artificially Intelligent (AI) offline dictation feature on its Gboard keyb..
Facebook denies cyber attack
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suf..
Wipro opens third industrial
IT major Wipro Ltd on Thursday opened its centre of excellence for Industrial Internet of Things (..