ServiceMax, the creators of the first complete suite of cloud-based, mobile and social field service applications, has raised additonal series D financing with an investment from Adams Street Partners, a firm which manages the private equity investments for institutional investors. Also involved in the round, which raised $27m in November, were venture firm Crosslink Capital and existing investors Mayfield Fund, Trinity Ventures, and Emergence Capital Partners.
ServiceMax, formerly known as Maxplore Technologies, has raised $52m in aggregate. In June last year it raised $14m in its series C round from a consortium including online software group Salesforce.com. In April last year, ServiceMax raised $8m in its B round after Maxplore won Salesforce.com and Emergence’s $1m Force.com Challenge in November 2008.
Customers include large enterprises DuPont, Elekta, and Electrolux.
Mike Zappert, principal at Adams Street Partners, said: “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, 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.”