ServiceMax secures $14 million

The field service management company gets support from Mayfield Fund

Field service management company ServiceMax announced Wednesday its $14 million Series C round, led by Mayfield Fund, with help from existing investors Trinity Ventures, Emergence Capital, and Salesforce.com. The round brings ServiceMax’s total raised to $26 million.

Founded in 1999, ServiceMax offers a suite of cloud-based and mobile field service applications that covers everything from contract entitlements and scheduling and workforce optimization to inventory and parts logistics and real-time customer and partner portal access. The platform is built on top of Salesforce’s Force.com cloud application, which provides customers with speedy, low-cost service.

The platform is also flexible enough to address businesses of any size, whether they’re SMBs or large enterprises.

The company was recently named a winner of the 2011 Technology Services Industry Association Vision Award in the commercial category for the ServiceMax iPad app, which provides professionals in the field with complete mobile access to customer and route information, product manuals and warranty data, social collaboration, and more.

"Where on-premise solutions once reigned, organizations large and small are now adopting a cloud-based approach to manage their business processes," said Mayfield Partner Rajeev Batra in a statement. "The field service industry is one of the ripest sectors for this change and we believe that ServiceMax is leading the way. We are proud to be working with a great team and fast-growing industry leader."

Indeed, ServiceMax saw record growth in 2011, with 380% growth over the last year. Additionally, the company began serving an array of new customers, including three Fortune 25 manufacturers and six other Fortune 500 companies.

Customers include large enterprises like DuPont, Electrolux and Pentair, as well as smaller companies such as Everyday Wireless and Advanta Clean. ServiceMax offers solutions for small business, high-tech manufacturing, life sciences and medical equipment, industrial manufacturing and equipment, communications equipment, utilities, and residential and commercial services. 

The company plans to use the new capital to focus on accelerated sales and marketing to further develop the market and to build a field service community.

Image source: ServiceMax.com