Welcome!

News Feed Item

ServiceMax Announces $27 Million in New Funding to Accelerate Global Growth

PLEASANTON, CA -- (Marketwire) -- 11/07/12 -- ServiceMax, the leading provider of the industry's only complete suite of cloud-based, mobile and social field service management applications, today announced a $27 million series D investment led by Crosslink Capital to fuel the company's rapid growth and geographic expansion. Also participating in the round were ServiceMax investors Emergence Capital Partners, Mayfield Fund, and Trinity Ventures. ServiceMax has raised $52 million to date.

The funding comes on the heels of yet another quarter of triple-digit growth, in which ServiceMax saw its bookings increase more than 150% over last year.

"CEOs today are making their numbers because of their service organizations, and a solution to manage and maximize those profits is now a must-have business application," said Dave Yarnold, CEO of ServiceMax. "ServiceMax is enabling our customers around the globe to drive unprecedented levels of field service revenue and customer loyalty. Our new round of funding from proven investors with amazing track records will enable us to make the investments necessary to continue our rapid growth trajectory."

With software built from the ground up on cloud, mobile and social technologies, ServiceMax helps companies manage the entire field service management process, including: contracts, parts, scheduling, customer and partner portals, and more. ServiceMax counts customers of all sizes in more than 20 verticals, including industrial equipment company McKinley Equipment and Elekta, a large medical device manufacturer that is currently using ServiceMax across North America and Japan with Europe and Asia in the process of rollout.

In addition to success in the United States, ServiceMax has experienced substantial growth internationally and established a strong presence in Europe with a rapidly growing team. With the latest funding, ServiceMax will continue to invest aggressively in its European efforts and accelerate the company's successful international growth.

Joining the board is David Silverman, a partner at Crosslink Capital. Silverman brings 15 years of venture capital and investment banking experience to ServiceMax's board and has invested in numerous cloud companies with broad international success.

"The field service market is massive, nearly as large as salesforce automation, and ServiceMax has the right team and technology to take full advantage of this incredible opportunity," said Silverman. "Crosslink Capital invests in the most promising companies on the brink of exponential growth, and ServiceMax is primed to drive this market to new levels."

"Field service is the greatest use-case for cloud, mobile and social, and ServiceMax is built on a foundation of these technologies," said Jason Green, ServiceMax board member and partner at Emergence Capital. "The elite, proven team at ServiceMax combined with the huge market opportunity and their incredible pace of innovation, makes them the clear field service leader now and going forward."

ServiceMax was recently named the leading "Visionary" in the Gartner Magic Quadrant for Field Service Management, making the largest leap ahead of any field service vendor.

About ServiceMax
ServiceMax delivers the future of field service, today. The first and only complete suite of cloud-based, social and mobile field service applications, ServiceMax gives companies unprecedented capabilities in field service to optimize operations and delight customers. Companies use the ServiceMax suite to handle everything from contract entitlements to scheduling & workforce optimization, to inventory & parts logistics and real-time customer and partner portal access. Customers include large enterprises such as Dupont, Elekta, and Electrolux, and smaller companies such as McKinley Equipment and Advanta Clean. ServiceMax is headquartered in Pleasanton, California. For more information, please visit www.servicemax.com or find us on Twitter and Facebook.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact
Jeremy Frank
Email Contact
925-202-2827

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
As pervasive as cloud technology is -- and as persuasive as the arguments are for using it -- the cloud has its limits. Some companies will always have security concerns about storing data in the cloud and certain high-transaction applications will always be better suited for on-premises storage. Those statements were among the bottom-line takeaways delivered at Cloud Expo this week, a three day, bi-annual event focused on cloud technologies, adoption and associated challenges.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...