Today we announced this investment from Kayne and Kennet in Spatial Networks, to help us keep scaling Fulcrum in 2020 and beyond. This effort has been one of my main missions for the better part of 2019, so it’s rewarding to get to this milestone to build from. Our new partners at Kayne and Kennet each bring unique perspectives and experience to help us move faster and expand.
Spatial Networks, the creator of Fulcrum, the leading geospatial data collection and analysis platform for field operations, today announced that it has closed an investment of $42.5 million led by Kayne Partners, the growth equity group of Kayne Anderson Capital Advisors, L.P., and Kennet Partners, Ltd. The funding will primarily be used to scale the company’s sales and marketing capabilities, accelerate its product development roadmap, and further expand the Fulcrum data collection platform into international markets. The company has appointed Jim Grady CEO to oversee all aspects of the company’s strategy and execution globally.
I’ve spent the majority of the last few months working on our expansion strategy going forward next year and beyond. We’ve got some big ideas and plans for the product that I’m excited about in 2020.