News Feed Item

MaintenanceNet Strengthens Global Lead in Service Revenue-Automation Market With Investment From Kayne Partners

Data-Driven Sales Automation Innovator Engages With Alternative Investment Firm to Further Fuel Worldwide Growth and Technology Development

CARLSBAD, CA -- (Marketwired) -- 02/19/14 -- MaintenanceNet, Inc., the leading provider of service annuity solutions, today announced a partnership with Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., a $25 billion alternative investment management firm. Through the alliance, MaintenanceNet will receive a substantial investment from Kayne Partners to strengthen its lead in the service revenue-automation market and further fuel worldwide operations and ongoing technology development initiatives.

Launched in 2004, MaintenanceNet pioneered the service revenue-automation market with a goal of helping sales teams in complex tiered distribution channels sell the right service offerings while also assisting buyers to make the right service choices. Using business intelligence as the foundation for a new breed of data-driven sales and marketing automation technology, MaintenanceNet increases revenues for organizations around the globe, including the world's largest technology manufacturers and distributors and their reseller partners.

"With a diverse fund portfolio across multiple industries, Kayne Partners offers MaintenanceNet the opportunity to build upon its success as a market innovator and technology leader," said Scott Herron, the company's CEO.

Herron continued, "Ten years ago we had the foresight to create a new category of data-driven service revenue-automation technology and a value proposition that has propelled MaintenanceNet to become a profitable worldwide company with global customers who are leaders in their fields. The partnership with Kayne will not only enable us to scale further and faster globally, but to also ensure that we continue to provide our existing customers with best-in-class technology and services."

"We have partnered with Kayne because they align well with our team and demonstrated excellent synergy with the direction MaintenanceNet is heading. We're looking forward to this next phase in our growth with their support behind us," Herron added.

Product Development Ramp Up in the Works

MaintenanceNet is already ramping up product development, with new additions to its cloud-based technology platform planned for the first half of 2014. This comes on the heels of a doubling in size of business and operations in Europe and continued customer expansion across North America and the Asia-Pacific regions in 2013. At the same time, last month MaintenanceNet reported it delivered more than 2.5 billion service quotes -- to more than 20,000 resellers in 63 countries using 21 languages -- on behalf of its manufacturing customers, global distributors and their channel partners worldwide in 2013. The result was hundreds of millions of dollars in new revenue streams for these customers.

"Kayne Partners has a strong track record of partnering with innovative, high-growth companies and we are excited about our partnership with the MaintenanceNet team," said David Walsh, Managing Partner of Kayne Partners. "The company is solving a revenue generation pain-point across an entire supply chain and uncovering profits that were previously unobtainable. When we met this team and realized the amount of value that they are delivering to very happy customers, we knew that we wanted to be a part of this story. We are impressed with the ingenuity of MaintenanceNet and we greatly look forward to working together with them in the coming years."

For more information on MaintenanceNet and its complete line of product and service annuity solutions, visit www.maintenancenet.com, or follow MaintenanceNet on Facebook, Google+, LinkedIn and Twitter.

About Kayne Partners
Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P. and is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $500 million in platform investments and add-on acquisitions. Kayne Partners looks to partner with driven entrepreneurs as a non-control minority investor. For more information about Kayne Partners, visit www.kaynepartners.com.

About MaintenanceNet
MaintenanceNet empowers the world's leading manufacturers and their channel partners to expand the scope and success of their service sales initiatives. The company has delivered billions of dollars in service revenues, while also improving overall customer satisfaction and retention for the businesses it serves. The key to MaintenanceNet's success is its proficiency in turning incomplete or inaccurate customer data into actionable business intelligence that drives revenue and profits for manufacturers. MaintenanceNet's Service360 cloud-based platform and Campaign Management solution expedite and automate sales processes, and provide a channel-friendly approach to service quoting, ordering and renewing. For more information, visit www.maintenancenet.com or call 866-699-7212.

MaintenanceNet is a registered trademark of MaintenanceNet Incorporated.

Kelly Crothers
MaintenanceNet, Inc.
Email Contact

Paula Johns
MaintenanceNet Public Relations
Email Contact

Doyl Burkett
Kayne Partners

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
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here