ServiceMax is a GE Digital Company which provides cloud-based field service management solutions for technicians, managers and executives. The Pleasanton, Calif.-based company’s services are built and delivered on Salesforce.com’s Force.com platform and work to help clients drive efficiency, discover untapped innovation, unlock new revenue streams and improve the satisfaction of their end-customers.
Since launching in 2007, the enterprise software company has raked in $204 million in seven rounds of funding from backers including PremjiInvest, Trinity Ventures, Mayfield Fund, Crosslink Capital, Meritech Capital Partners, Emergence Capital Partners and GE Ventures, according to Crunchbase.
For 12 years, the firm has sought to boost its clients’ customer loyalty and bottom line numbers through enhancing the critical business operation of post-sale service.
In November 2016, ServiceMax was bought by GE Digital in a deal worth $915 million, a year after the industrial conglomerate participated in the company’s $82 million Series F funding round. The acquisition marked GE’s larger focus on the high growth industrial Internet of Things (IoT) space, using data on massive machines such as wind turbines and airplane engines to deliver its customers the valuable data that they need to manage and maintain their mega systems.
GE Ventures is upbeat on ServiceMax’s leadership position in the high growth mobile field service management software space, which it estimates at $18 billion worldwide. ServiceMax currently serves over 20 million people globally who install, maintain and repair machines across dozens of industries, claiming to be the only provider of complete end-to-end mobile and cloud-based technology for the sector.
ServiceMax is led by CEO Scott Berg, who replaced industry vet David Yarnold in January 2018 after a nine-year run at the helm. Berg had spent over 8 years with the company in leadership positions across Engineering, Sales, Services and Customer Success. Before ServiceMax, he was an original member of a small group that formed SuccessFactors’ first industry vertical team focused on the healthcare market. Berg also held positions at companies including SaaS business intelligence solution Birst, Extensity Inc., Eli Lilly and Cegedim Dendrite.