ServiceTrade, a Durham NC-based provider of software as a service applications for commercial service contractors, raised $85M in Growth funding.
The round was led by JMI Equity with participation from Frontier Growth and Bull City Venture Partners. As part of the transaction, David Greenberg and Stephen Jones of JMI will join the ServiceTrade board of directors.
The company intends to use the funds to to accelerate strategic growth, product expansion, and top talent acquisition.
Founded in 2012 by Billy Marshall and Brian Smithwick, ServiceTrade provides a software as a service applications for commercial service contractors. Contractors use its mobile and web applications to streamline service operations, sell more services, and engage customers online to earn revenue growth averaging over 23% year-over-year.
Since its 2012 founding, ServiceTrade has been used by more than 800 commercial contractors that manage more than 12,000 skilled technicians and generate almost $3 billion in annual service contracting revenue.