FAYETTEVILLE, Ark., March 10, 2015 /PRNewswire/ -- Field Agent, the leader in location-specific mobile market research and retail data collection, announced today a follow-on investment in the company by Five Elms Capital of Kansas City.
The investment will allow Field Agent to broaden its solutions for consumer packaged goods companies, retailers and research agencies said Rick West, CEO and Co-Founder of Field Agent. "Our clients have asked us to come along side them to create new products on our mobile platform, including a Do-It-Yourself solution to directly access our global research network."
Field Agent provides "eyes and ears" for companies by performing audits and market intelligence collection from a crowdsourced network of over 500,000 Agents made up of every day consumers who have downloaded our app. The company's network determines if products are in stock and on the shelf, performs promotional display audits, checks competitor pricing and mystery shops via several audit and research methodologies. Field Agent also delivers summary reports with insights at a fraction of the price and significantly faster than traditional providers.
"Our clients come to us because we have walked in their shoes and understand what it takes to deliver best-in-class data and insights from stores and homes along the consumer's Path to Purchase," West added. "In-store execution and shopper insights is where it's at, and we can help clients and business owners maximize their efforts by providing important data and insights faster and more affordably than our competition."
Launched in April 2010, Field Agent created the location-specific mobile research category by being the first mobile application that utilized crowdsourcing and was able to pay smartphone users cash for providing a variety of location-specific field data and insights. Today the company has hundreds of clients ranging from a "Who's Who" of Fortune 500 companies to small business owners across a broad spectrum of industries, categories and countries.
"Five Elms focuses on working with outstanding entrepreneurs who are changing their industries," said Fred Coulson, Managing Partner of Five Elms Capital. "Field Agent is highly unique in its ability to service its clients better than its competitors through a combination of technology and industry expertise. In just two short years since our original investment, Field Agent has quickly become the industry leading provider of real-time, location-specific data collection and market research through its proprietary app and reporting engine."
Smith Hurst, PLC served as legal counsel to Field Agent and represented the company in the transaction. Husch Blackwell, LLP served as legal counsel to Five Elms Capital and represented the firm in the transaction.
About Field Agent
Headquartered in Fayetteville, Arkansas, Field Agent leverages its crowdsourced network of over 500,000 Agents to connect business people with quality information anywhere across the globe. The company disrupts the fundamental way in which the world collects business information. Used by some of the world's largest and best-known retailers and consumer packaged goods companies, Field Agent utilizes proprietary mobile research tools and methodologies to provide data and insights to inform decision-makers on a variety of topics. Follow Field Agent® on LinkedIn and Twitter to stay up-to-date with current projects and research materials. For examples and more information on consumer surveys, in-store audits and mobile research, please visit blog.fieldagent.net.
About Five Elms Capital
Based in Kansas City, Five Elms Capital is a leading growth capital firm that invests $3-30 million in fast-growing companies outside of Silicon Valley. Five Elms partners with growing, bootstrapped software and services businesses, and provides capital and resources to help them continue to accelerate growth and become industry leaders. For more information, visit fiveelms.com.
Shauna Vo Pulayya
SOURCE Field Agent