The Evolution of Fleet Management Software and a New Investment

Contemporary discussions frequently center on the evolving future of work and the increasing availability of advanced tools for geographically dispersed teams. However, companies specializing in fleet management software have been actively addressing these challenges for a considerable period. Today, a long-standing company in this sector is announcing a substantial investment, indicating growing investor interest in B2B solutions and new avenues for expansion.

BigChange Secures £75 Million in Funding

BigChange, a U.K.-based company developing fleet management software designed to track and assign tasks to mobile workforces – where vehicles often serve as primary workplaces – has successfully closed a funding round of £75 million (equivalent to $102 million based on current exchange rates). This investment was spearheaded by U.S. firm Great Hill Partners.

The company’s success stems from leveraging technological advancements to create applications for field service engineers and operational teams. This contrasts with traditional methods that relied on phone calls, paperwork, and frequent travel between locations.

Revolutionizing Mobile Workforce Management

“My vision for BigChange was to fundamentally transform mobile workforce management, bringing it into the modern era,” stated founder and CEO Martin Port. “Our platform streamlines operations by eliminating paperwork, reducing carbon emissions, enhancing efficiency, promoting safer driving practices, and enabling engineers to dedicate more time to completing jobs rather than administrative tasks.”

Port further expressed excitement about the partnership with Great Hill, highlighting their proven expertise in scaling vertical and enterprise software companies both within the U.K. and internationally.

Company Valuation and Funding History

Great Hill’s investment values BigChange at £100 million ($136 million). Reports indicate that a portion of this funding involved a secondary transaction, resulting in £48 million for Port personally. Established in 2012, the company has demonstrated profitability and previously raised minimal funding – approximately $2 million – even cancelling a planned angel investment round, according to PitchBook data.

A Sign of Expanding Tech Boundaries

This investment is significant as it demonstrates the expanding scope of the technology industry and the blurring of its traditional boundaries.

Decentralization of Tech Beyond Southern Hubs

BigChange distinguishes itself by its location; it is not based in London, Cambridge, Oxford, or Bristol. Instead, it originates from Leeds – a city with a growing startup scene, despite receiving less funding and attention compared to its southern counterparts. (Pharmacy2U, a Leeds-based online pharmacy backed by Atomico and BGF, stands out as a notable exception and is one to watch, particularly given Amazon’s interest in this sector.)

A prominent trend in technology is the increasing decentralization of activity. This is driven by the rise of remote work, prompted by the COVID-19 pandemic, and a growing desire among individuals to relocate from expensive areas like the Bay Area to locations offering a better quality of life.

While cities like Manchester, Edinburgh, and Cardiff also boast thriving technology ecosystems, this funding round for a Leeds-based company suggests a similar trend may be unfolding in the U.K., with increased investment and talent flowing to regions outside the traditional hubs.

Focus on the Field Workforce

The core of this story lies in what BigChange is developing.

The company is among many focusing on creating applications and software solutions for workers who are not “knowledge workers” – those who don’t primarily work at desks, are frequently mobile, and rely on manual skills. For those on the road, it offers apps like JourneyWatch to optimize job management and routes. For dispatchers, JobWatch provides tools for tracking, job balancing, and data analytics.

These solutions are deployed on ruggedized devices using a SaaS architecture, currently serving approximately 50,000 users across 1,500 organizations globally, with a significant concentration in the U.K.

A Growing Market for Field Service Solutions

BigChange is not alone in targeting field workers. Jobber, a North American company providing software for service professionals, recently secured substantial funding. Other players in this space include Hover (offering tools for home repair professionals), GoSite (a platform for SMBs establishing an online presence), Klipboard, Azuga, ServiceTitan, and ServiceMax.

Great Hill Partners’ Investment Strategy

Great Hill Partners, known for its investments in media companies like Gizmodo and Ziff Davis, as well as The RealReal and Wayfair, was drawn to BigChange’s broad adoption across diverse industries within the “field service” sector.

“Martin and his team have developed a versatile, all-in-one platform for field service professionals and operators, unlike specialized companies that cater to smaller clients and niche markets,” stated Drew Loucks, a partner at Great Hill Partners. “BigChange’s technology is distinguished by its ability to serve both commercial and residential clients of any size or industry, as well as its award-winning product development and customer support.”