Field Agent, a leader in mobile research and retail data collection, announced today an 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 while expanding into new verticals according to Field Agent CEO Rick West. “We are business people, analysts and researchers who thrive on finding solutions to acquiring location specific data from retail locations and people’s homes,” he said.
Field Agent allows companies to perform audits and collect market intelligence from a crowdsourced network of 240,000 smartphone-enabled “agents” around the country. The company’s Field Agent network determines if products are in stock and on the shelf, performs promotional display audits, checks competitor pricing and displays, “mystery shops” and executes other valuable services at a fraction of the price and significantly faster than traditional providers.
“Our clients understand that what happens in their stores and on their shelves directly affects how competitive they can be in the marketplace,” West added. “In-store execution is where it’s at, and we can help clients maximize their efforts by providing important data faster and less expensively than others.”
Launched in April 2010, Field Agent was the first mobile application that paid smartphone users for providing a variety of location-based field data and insights. Today the company has hundreds of customers ranging from a “Who's Who” of Fortune 500 companies, large consumer packaged goods companies, retailers, as well as a significant number of small- and medium-sized clients across a broad spectrum of industries, categories and countries. Field Agent’s clients can be found in every aisle of the grocery store and across all retail categories.
Five Elms Capital focuses on providing expansion capital to change the way service-based industries solve problems, lower cost infrastructures, and accelerate growth. Unlike other investment companies, Five Elms focuses its efforts on fast-growing organizations located in the middle of the country. Sample sectors include business services, consumer services, information / internet, financial services and software-as-a-service.
“Field Agent is one of those companies we found to be wholly unique in its industry – a true leader in fast and efficient market research, especially in the consumer packaged goods space,” said Fred Coulson, managing partner of Five Elms Capital. “With its Northwest Arkansas headquarters, the company has unique access to large global brands and is a good fit with our business model. We are excited to be able to help them add to their already impressive arsenal of capabilities.”
Smith Hurst, PLC served as legal counsel to Field Agent and represented it in the transaction. Husch Blackwell, LLP served as legal counsel to Five Elms Capital and represented it in the transaction.
About Field Agent
Headquartered in Fayetteville, Ark., Field Agent leverages its crowdsourced network of over 240,000 field agents to connect business people with quality information anywhere across the globe. In short, we disrupt 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, our proprietary mobile research tool provides data and insights to inform decision-makers on a variety of topics. Additional information is available at www.fieldagent.net.
About Five Elms Capital
Five Elms Capital is based in Kansas City and provides expansion, recapitalization, and acquisition capital to high-growth businesses in the Central and Mountain time zones. Five Elms invests in a wide range of service-based industries. To learn more about Five Elms, please visit www.fiveelms.com.