US-based employee management software provider Parsable received $60m in series D funding on Tuesday from investors including networking technology producer Cisco, petroleum supplier Saudi Aramco and industrial and consumer technology manufacturer Honeywell.
The round was co-led by growth equity firms Activate Capital and Glade Brook Capital Partners and also featured Evolv Ventures, the venture capital firm backed by food producer Heinz, as well as Alumni Ventures Group, Downing Ventures, Princeville Capital, Lightspeed Venture Partners, Future Fund and B37 Ventures.
Cisco and Saudi Aramco participated through corporate venturing subsidiaries Cisco Investments and Saudi Aramco Energy Ventures. The company said it has now raised $133m since being founded in 2013.
Parsable has built a software platform that helps industrial workers receive instructions and provide feedback through mobile devices. The cash will support expansion in territories such as Africa, Latin America, Europe, the Middle East and Asia.
Future Fund led the company’s $40m series C round in mid-2018, investing alongside Saudi Aramco, aerospace manufacturer Airbus, B37 Ventures and Lightspeed Venture Partners, valuing it at $250m.
Saudi Aramco Energy Ventures had already led a $20m series B round for Parsable in 2016 that also featured Airbus, Lightspeed Venture Partners and oil and gas technology manufacturer Schlumberger.
The company – then known as Wearable Intelligence – had secured $7.9m in a 2014 series A round backed by internet technology group Alphabet’s GV unit, Lightspeed, Andreessen Horowitz, Initialized Capital, Kleiner Perkins Caufield & Byers and Subtraction Capital.
