Fyld Raises £32 Million to Expand Safety Technology into the US Market

A London-based technology company, Fyld, has successfully raised £32 million to enhance its operations in the United States. The firm, which focuses on providing safety solutions for civil engineering and utilities sectors, aims to reduce worksite injuries through its innovative platform.

Fyld’s system allows field staff to report risks by submitting photographs and videos. The technology has already shown promising results, with reports indicating a 48 per cent reduction in serious accidents among users. This significant achievement can be attributed to the real-time monitoring capabilities that ensure compliance and safety measures are upheld.

According to Shelley Copsey, co-founder and chief executive of Fyld, the investment from Energy Impact Partners and Partech will facilitate the recruitment of additional sales personnel and further development of the software. The funds will allow the company to meet the growing demand for digitalisation in this high-risk industry.

The need for increased safety measures is crucial, especially as many companies grapple with tight profit margins. The technology is designed to streamline processes by enabling workers to capture video evidence rather than filling out static forms, thereby enhancing productivity and safety.

Fyld’s reach is not limited to the UK; it has begun acquiring customers in the US, including notable firms such as Kiewit Corporation and Quanta Services. The company anticipates that 40 per cent of its revenue will stem from the US market by year’s end.

As Fyld looks to expand its operations into the Middle East next year, it remains committed to helping workers return home safe from potentially perilous sites. The attention to safety in high-risk situations highlights the company’s dedication to safeguarding the wellbeing of field staff.