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.