ServiceMax, a Pleasanton, California-based provider of a field service management solution, closed a $71m Series E financing.
The round was led by Meritech Capital with participation from Kleiner Perkins Caufield & Byers, as well as new investors Cross Creek Advisors, QuestMark Partners, Sozo Ventures, as well as existing investors Emergence Capital Partners, Mayfield Fund, Trinity Ventures, Crosslink Capital, Adams Street Partners, and salesforce.com.
The company intends to use the funds to scale all areas of its business including product, global expansion, and sales.
Led by CEO Dave Yarnold, ServiceMax provides customers in industries spanning from oil and gas and medical device to telecommunication and utilities with field service management applications (contract entitlements, scheduling & workforce optimization, inventory & parts logistics), which feature mobility, social collaboration, and real- time customer and partner portal access.
Customers include large enterprises such as Electrolux, Coca-Cola Enterprises, and Elekta, and smaller businesses like McKinley Equipment and Kinetico.