ServiceMax provides a suite of asset-centric field service applications built on the Salesforce platform that give customers a complete view of their assets. The software enables enterprise customers to run efficient service operations in complex, asset-intensive industries. Led by CEO Neil Barua, the company serves verticals including manufacturing, medical devices, energy, heavy equipment and other industrial markets. ServiceMax is used by enterprise companies across the globe. The company announced a recent $80M growth funding round to support its business and product initiatives. ServiceMax provides cloud-based and mobile field service management software used by companies that install, maintain, and repair machines across dozens of industries. The company is led by CEO Dave Yarnold and is based in Pleasanton, California. Earlier in the year ServiceMax partnered with IoT solutions company PTC to offer an integrated product combining field service management with connected device management. ServiceMax raised $82M in a Series F funding round and has now raised $202M in total. The company intends to use the funds to continue expansion of its global operations, grow sales, support, and marketing worldwide, and increase product development. The round included both new and existing strategic investors. ServiceMax builds field service management software that automates workforce optimization, advanced scheduling and dispatch, parts logistics, inventory and depot repair, and manages installed-base entitlements. The platform gives technicians access to customer history and problem context and includes social features for remote help (including FaceTime) when troubleshooting complex equipment. Its software is used by more than 300 customers across industries such as medical devices, oil and gas, telecommunications, and utilities, with named customers including Kodak Alaris, Coca-Cola, and Arjo Huntleigh. ServiceMax says it added more than 100 customers last year and has seen triple-digit growth in the past year in both revenue and bookings. The company cites a roughly $15 billion field service software market, with more than 5 million field techs in the U.S. and many more globally, and notes mobile device adoption (tablets, iPad) as a growth driver. The new financing will be used to scale product development, global expansion, and sales. ServiceMax provides a suite of cloud-based, mobile and social field service applications that manage the entire field service process, including contracts, parts, scheduling, and customer and partner portals. The company serves customers in more than 20 verticals. Led by CEO Dave Yarnold, ServiceMax intends to continue to grow and expand internationally. In July 2012 it raised $27M in a Series D financing to support that expansion. The company had raised $52M to date following the round. ServiceMax is headquartered in Pleasanton, California. ServiceMax develops cloud-based field service software that automates workforce optimization, advanced scheduling and dispatch, parts logistics, inventory and depot repair, and installed-base entitlements. The product is built on Salesforce.com’s Force.com platform and features an app on Salesforce Chatter’s marketplace, ChatterExchange. ServiceMax reports 380% year-over-year growth in Q1 2011 and is currently used by about 150 customers, including DuPont. The company has also released an iPad app to provide a mobile solution for service agents. ServiceMax has attracted substantial support from Salesforce, which has participated in multiple funding rounds. To date the company has raised $26 million.

Total raised

$282M

Funding rounds

6

Latest round

Equity

Latest activity

Feb 2020