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ServiceMax Accelerating Global Growth with $27 Million in New Funding

November 15, 2012

ServiceMax, a provider of a suite of cloud-based, mobile and social field service management applications, recently announced a $27 million series D investment led by Crosslink Capital to fuel the company’s rapid growth and geographic expansion. Companies use the ServiceMax suite to handle everything from contract entitlements to scheduling and workforce optimization, to inventory and parts logistics and real-time customer and partner portal access. 

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.

"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, in a statement. "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."

To date, ServiceMax has raised $52 million. The funding comes on the heels of yet another quarter of triple-digit growth, in which ServiceMax saw its booking increase more than 150 percent over last year.

Ensuring that you’re fulfilling SLA commitments and maximizing the field team’s time takes focus and the right systems. ServiceMax enables customers to manage field service teams and their territories, as well as the corresponding field activities including creation, assignment, execution, closure and debrief of fieldwork internally and across your partner service teams

"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."

With its field service scheduling and workforce optimization product, ServiceMax ensures you are sending the right tech to the right job at the right time, while maximizing customer delight and your first call closure rates.

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Edited by Rich Steeves
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