Five Elms Capital Puts $2M Into Field Agent

Five Elms Capital of Kansas City, Kan., has backed Fayetteville-based technology company Field Agent with an additional $2 million in funding.

Field Agent announced the news Monday in a news release. The investment, according to the company, will help broaden solutions for consumer packaged goods companies, retailers and research agencies

“Our clients have asked us to come alongside them to create new products on our mobile platform, including a do-it-yourself solution to directly access our global research network,” president and CEO Rick West said.

Field Agent, founded in April 2010, specializes in mobile research and retail data collection. The company mainly serves consumer packaged goods companies and retailers with its mobile app that collects data like product pricing and availability from shoppers.

Five Elms invested $2.5 million in Field Agent in April 2013.

“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 of Fayetteville served as legal counsel to Field Agent and represented it in the investment transaction, the news release stated. Husch Blackwell LLP represented Five Elms Capital, which invests in a wide range of service-based industries.