Pleasanton, CA – December 17, 2012 —ServiceMax, the award-winning creators of the first and only complete suite of cloud-based, mobile and social field service applications, today announced additional funding to close out the company’s series D round. The latest investment comes from Adams Street Partners after the investment firm evaluated multiple field service companies.
“Field service is a massive and largely untapped market today. Our due diligence and conversations with customers led us to conclude that ServiceMax is the clear market leader, and is well positioned for continued growth,” said Mike Zappert, Principal at Adams Street Partners. “The company’s impressive roster of branded global customers, solid track record, and a proven leadership team gives us all the confidence that ServiceMax will continue to grow at an impressive rate.”
Also participating in the round of funding was Crosslink Capital and existing investors Mayfield Fund, Trinity Ventures, and Emergence Capital Partners.
“With our new round of funding, we are focused on making investments in our business that will fuel global growth, and make every one of our customers insanely happy,” said Dave Yarnold, CEO of ServiceMax. “Adams Street Partners is on board with our strategy going forward and will be a valuable partner to ServiceMax in our next phase of growth.”