Software company FieldPulse raises $21 million

FieldPulse, the Dallas-based software company, landed $21 million in new funds last week. Gabriel Pinchev, the company’s CEO, said it’s a move that allows the company to increase its reach in an exciting time.

Details: The round was led by Fulcrum Equity Partners and included participation from Capri Ventures and Superseed Ventures. The company is set to do over $9m in revenue this year.

“The funding will be used to increase product and development, expand the team, and bolster marketing initiatives in a multi-billion dollar market”, says FieldPulse.

Big picture: The fundraising comes at a time when venture capital investments are down over 50% from the same period last year, illustrating the strength and promise of the field service industries — HVAC included.

Similar deals have been done over the past couple of years, too, including Housecall Pro’s $125m round, Payzer’s $23m raise, and EverCommerce’s acquisition of Kickserv.

Looking ahead: As more contractors across the country adopt software in the coming years, it’s likely that activity among software vendors heats up — mergers, partnerships, integrations — all geared toward better serving contractors.