You might have seen that Field Agent Inc. of Fayetteville, a technology company whose services include market research, recently acquired a workforce management company in Paris.
But did you know that Field Agent also recently raised $8.7 million to help fund the acquisition of SimpliField, a software company that helps companies manage its staff?
Field Agent’s private equity partner, Five Elms Capital of Kansas City, Missouri, helped create the funding for the purchase, said Henry Ho, Field Agent’s co-founder and chief strategy officer.
Field Agent has about 2.5 million people it can use to do market research such as going into a store and checking on a display, the price of items or how a shelf is set up, Ho said.
Field Agent’s other services include ratings and reviews of products.
“Our mission is to help companies win at retail,” he said.
SimpliField is a software as a service business platform. An October news release announcing the acquisition described how “SimpliField’s powerful communication system and analytics capabilities help companies improve teamwork, compliance, and performance at-retail. SimpliField’s alerts, real-time communication, and data analytics empower brands and retailers to coordinate and monitor their remote stores and field teams globally.”
Ho said that by “integrating the two companies, we can serve both sides of the market.”
The news release also said that both companies have combined revenues of more than $20 million and more than 150 employees.
Field Agent has been doing business overseas since it started in 2010 and is in eight countries. And it expects more growth.
Field Agent expects to launch in a country in South America in early 2023, Ho said.