Press Release

ServiceMax Bolsters Industry Leadership in FY 2013 Posting Fifth Year of Triple-Digit Growth

160% growth in enterprise segment highlights a year of global expansion


Pleasanton, CA – March 4, 2013 —ServiceMax, the leading field service management solution for a new era of business, today announced its fifth straight fiscal year of triple digit growth in the year ending January 31, 2013, continuing to forge ahead on the company’s mission to help field service organizations around the world grow revenue, perfect field service delivery, and delight their customers everyday.

Included among last year’s hundreds of new subscription orders were:

  • 15 new medical device providers, including the world’s largest independent medical technology company.
  • A Fortune 10 industrial products manufacturer that choose ServiceMax for five of its divisions
  • Two of the largest consumer products companies in the world
  • The global leader in security and fire suppression equipment
  • The global leader in energy transmission and monitoring
  • Three of the world’s largest manufacturers of office equipment

ServiceMax also recently announced its first global customer survey which revealed that the average ServiceMax customer increase revenue by 14% and productivity by 31% after implementing ServiceMax technology.

ServiceMax continued its rapid pace of innovation last year, adding three new significant modules to the product:

  • The world’s only configurable iPad app designed specifically for field service
  • Service Parts & Reverse Logistics, designed to meet the needs of companies with complex, distributed service supply chains
  • Advanced Contracts & Billing, which helps companies maximize their service contract revenue

“ServiceMax’s customer, product and business success this past year was a clear indication that the company has catalyzed a new era of growth in our industry.”

said Dave Yarnold, CEO of ServiceMax.

“Our customer data validating the incredible business impact of ServiceMax, combined with the massive demand we are seeing for our product shows that we are in the midst of a huge shift, where businesses are increasingly focused on service operations and on-site, value-add interactions with customers to increase profits, bolster their brands and ensure the future success of their company. ServiceMax and field service are right at the core of this evolution.” 

ServiceMax also expanded its global presence in the past year:

  • Opened its London office, with expansion plans to open offices across Europe in 2013
  • Moved into a new headquarters office in Pleasanton, CA
  • Certified several global implementation partners including Etherios, Acumen Solutions, Astadia and Vertiba

To fund this growth, the company raised an additional $27 million in new funding, adding two new strategic, seasoned investors: Crosslink Capital and Adams Street Partners, who joined existing investors Emergence Capital Partners, Mayfield Fund, Trinity Ventures and Salesforce.com as investors in ServiceMax.

About ServiceMax

ServiceMax is the only complete suite of cloud-based, social and mobile field service applications. ServiceMax gives companies unprecedented capabilities in field service to increase revenue, perfect field service delivery, and delight customers. Companies use ServiceMax to manage the entire field service process including scheduling, parts and contracts. Customers include large enterprises such as Dupont and Elekta, and smaller companies such as McKinley Equipment and Kinetico. ServiceMax is headquartered in Pleasanton, California. For more information, please visit www.servicemax.com or find us on Twitter and Facebook.