hrtechoutlook

Parsable Bags $60 Million Investment to Accelerate its Growth

HR Tech Outlook | Monday, August 17, 2020

The Parsable Connected Worker Platform guides frontline workers and their activities through digital, rich-media standard work procedures, enables real-time and remote collaboration, and triggers automated actions in business systems and machines

FREMONT, CA: Parsable, a San Francisco, CA-based connected worker platform company, raised $60m in Series D funding. The round brings the total funding raised to date over $133m. It was co-led by new investors Activate Capital and Glade Brook Capital Partners with participation from new investors Alumni Ventures Group, Cisco Investments, Downing Ventures, Evolv Ventures, and Princeville Capital. Existing investors included Lightspeed Venture Partners, Future Fund and B37 Ventures, and continuing strategic investments from the investment groups at Honeywell and Saudi Aramco Energy Ventures.

Along with the funding, David Lincoln, managing partner, Activate Capital, will join Parsable's board of directors, along with Paul Hudson, founding partner, and chief investment officer, Glade Brook Capital Partners. Lorrissa Horton, vice president and general manager of WebEx Teams at Cisco, will join as an observer on the Parsable board of directors.

The company plans to use the capital from the funding to accelerate its growth, including Asia, EMEA, and Latin America, invest in its global partners and integrations, and further deepen the enterprise depth and capabilities of its platform.

"Despite these uncertain times, achieving this amount of funding proves that forward-thinking companies and the investment community are bullish about the criticality of human industrial workers in the world economy. Empowering frontline workers with modern, accessible yet powerful digital tools to increase safety, performance and quality is essential to the long-term resilience and flexibility of our supply chains," said Lawrence Whittle, Parsable CEO.

Parsable provides the Connected Worker Platform, enabling employees to collaboratively execute their work using digital work instructions on mobile devices. In addition to measuring every step and action, workers can raise issues and provide feedback in real-time so that every process is quickly analyzed and improved. With Parsable, companies gain visibility into their operations, uncover detailed data about their work processes for continuous improvement, and attract new talent.

Customers include companies like Corteva Agriscience, Grupo Bimbo, Georgia-Pacific, Henkel, Shell, Suntory, and Yara, and many other leading global producers in consumer packaged goods (CPG) manufacturing, paper and packaging, transportation, and energy. The company's platform is globally deployed and has users in more than 130 countries, and is available in 14 languages.

Weekly Brief

Read Also