FieldOS – raising smart money twice on SeedBlink

Created for maximum usability on the mobile devices’ screen, FieldOS ensures that all relevant parties stay connected throughout the issue resolution process.

FieldOs (ex-Smarthuts) had an active round in 2021, targeting a funding round of 140.000 EUR and closing at 190.500 EUR. The round started with 40.000 EUR pre-committed money and added 100.000 EUR raised through SeedBlink.

We sat down with Ionut Gavrilescu to talk about this new raise and what we can expect from the startup in the future.

What does "success" mean for FieldOS?

Short term success – by the end of 2023 having 5 clients with 3-7.000 Euro MRR in US.

Mid-term success – by the end of 2024 FieldOS should have 10 active resellers, 40 clients and repeatable sales process in very digitalized areas.

Long term success is to fulfil our vision – By the end of 2026 FieldOS is to be used on a large scale by companies from Western Europe and US and be recognized by Gartner as a Visionary Player in CMMS and FMS categories.

Our energy – mine, Cristian’s and our whole team comes from our clients, when we see that they use what we have created and they come to work relaxed, knowing that there is a system helping them to do their job faster and without errors.

Implementing software for people working in the field is really hard. It means that you, as a company, have so many problems with clients, lost revenue, disgruntled employees that you have decided to go with a software to the “final frontier” – from people working at their desks to the deskless workers. These deskless workers – field technicians, cleaning people, security guards are not used to using software and don’t expect to use it.

How does the company develop, acquire and retain talent?

Our investors and partners always tell me they know this great recruiting agency that can help me find a great developer or customer success manager or salesperson. They are amazed when I tell them I don’t have a problem finding and keeping talent. Our “secret” is simple: I just tell them Our Story. How Cristian and I started working from an idea to a software being used by 34 clients. How we grew as persons, how other people join Our Journey. And people sense our teams' energy and the passion and want to join in. Because some of them also wanted to do this and some of them just want to be in a place with a Purpose and a Vision. Right now, when I’m going to a conference there is always a person that says: “I would like to work with FieldOS”. And some of them join as an employee, some of them as Referrals, Reseller or Technological Partner.

But in the end is the Passion that moves them towards us.

Why did you choose a mix of VCs and individual investors for your seed and bridge rounds?

People work much better when they have skin in the game. A lot of our customers’ employees, referrals and resellers liked so much our solution that asked us – how can we have stock in FieldOS. The easiest way to do that is through SeedBlink, of course.

But we must think also about the future rounds. This is the reason we chose to experiment with VCs and Business Angels with us, that can help us prepare and structure FieldOS for the future discussions with bigger VC funds.

What have been some of the highlights of your SeedBlink deal?

This deal helped us in a couple of ways:

- get in contact with former investors in our former SeedBlink round. We got to know them personally and some of them found that they can sell FieldOS;

- an important part of the current investors is made of clients and partners’ employees. There was no way we could have involved them in FieldOS story and give them stock without SeedBlink;

- SeedBlink has very good press and media coverage. We were contacted by several potential customers;

Would you recommend SeedBlink to other founders?

A big YES. For the reasons mentioned above:

- Give stock to clients and partners’ employees and management;

- Puts on the radar of VC funds;

- Gives you a very good media coverage that will land you clients, partners and very important – gives you TRUS;T

What’s the goal of this new funding round? Which departments will benefit most from this round of scaling?

We will use the money to land our first clients in Western Europe and US. Sales and marketing will be where 90% of the money will go.

Where do you see FieldOS and your team in 3-5 years? Are you thinking about an exit scenario?

In 3-5 years, we aim to have 5 – 10 mil. Euro ARR and 90% of the revenue from developed markets – US and Western Europe.

We are thinking about an exit strategy – either for a player like SAP, Oracle or to a technology conglomerate/company.

We appreciate your honesty and wisdom, Ionut. Do you have any final thoughts for our readers?

To start on a Journey like ours I think you have to have a pretty “peculiar” structure. If you are always questioning the current ways of doing things, if you always imagine new ways of doing and improving things you can say that you have the “raw” structure of what is needed. But the “secret sauce” is that you need to have a very smart team with complementary skills that understands from day 1 that everything they know will be overwritten with insights and advice from clients, mentors, business angels and everyone that has some skin in the game.

So, dear startup founder, be ready to have all your beliefs and knowledge challenged in ways you can’t imagine.

Check out FieldOS investment opportunity.