Australia’s Future Fund leads $40m Series C for US-based Parsable

By Ka Kay Lum

May 18, 2018

Australia’s sovereign wealth fund Future Fund has led a $40-million Series C round for San Francisco-based Parsable, a digital workflow platform for deskless industrial workers.

The round was joined by Lightspeed Venture Partners, Airbus, Saudi Aramco Energy Ventures and B37 Ventures.

The funding will enable the startup to bring its Connected Worker platform to more global enterprises. The platform enables employees to collaboratively execute their work using paperless, digital work instructions on modern mobile devices.

“For the last 40 years, big batch orders and a focus on massive economies of scale was the norm. Existing enterprise software has aligned with this level of scale and complexity. However, we’re now seeing smart manufacturers pivot to a more agile approach, moving towards smaller batches and rapid production. Enterprise software needs to become mobile first and more agile to meet these changing demands,” said Parsable CEO Lawrence Whittle.

 

Lightspeed Venture Partners founder and managing director Barry Eggers said its approach as an investor is to identify a clear theme enabled by technology that is changing large sectors of society.

“We identified the digital transformation of industry — both human and machine processes, known as Industry 4.0, as a clearly inevitable societal trend. Parsable has been a standout for us in its ability to grow rapidly and serve a constantly expanding need. We are delighted to support their next phase of growth.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW