ServiceMax

ServiceMax is a Service Execution Management company. It provides a cloud-based software platform designed to improve the productivity of complex, equipment-centric service execution for OEMs, operators, and 3rd-party service providers.

ServiceMax
TypeSubsidiary
IndustrySoftware as a service
Founded2009 (2009)
Founders
  • Athani Krishnaprasad
  • Hari Subramanian
HeadquartersPleasanton, California, U.S.
Key people
Neil Barua (CEO)
Products
ParentPTC
Websiteservicemax.com

Products & Services

ServiceMax's platform is a SaaS (Software as a Service) software running on Salesforce force.com cloud technology.[1][2][3][4][5][6] ServiceMax's cloud-based, mobile-ready field service software solution[7] supports companies across industries to manage work orders, plan and schedule work assignments, and provide mobile technician enablement, contracts and entitlements, proactive maintenance, and parts inventory management. The ServiceMax platform is designed to optimize the service execution processes and is used by service technicians, dispatchers, service planners, and their managers. Customers include medical device manufacturing, industrial manufacturing, food and beverage equipment, buildings and construction, technology, oil and gas, and power and utilities industries. ServiceMax software is primarily used by enterprise size customers.

The most recent areas of innovation include capabilities for complex jobs with functionality such as crew management and shift planning.

History

Maxplore Technologies was founded[8] by Athani Krishnaprasad and Hari Subramanian as a consulting company focusing on customer relationship management. A client requested Maxplore build a field service module on the Salesforce platform. The project took 2 weeks and in 2007, was entered in the “AppExchange Challenge” at the Dreamforce[9] conference. The project won $2 million in funding[10] from Emergence Capital and went on to win the Force Million Dollar Challenge in 2008[11][12] when the company changed its name to ServiceMax.[13] In February 2019, ServiceMax acquired Zinc,[14] the company providing a frictionless way for service workers to get and share knowledge in real-time. In November 2022, PTC signed a definitive agreement to acquire ServiceMax. for $1.46 billion in cash.[15] The acquisition completed in January 2023.[16]

Investors

The company completed a $82 million Series F round[17] in August 2015 led by PremjiInvest and GE. In November 2012, ServiceMax received[18] a $27 million Series D funding round. On November 14, 2016, General Electric Co.'s GE Digital unit announced a deal to buy ServiceMax for $915 million.[19] The acquisition was completed on January 10, 2017. On December 13, 2018, GE Digital and SilverLake announced an agreement for GE Digital to sell a majority stake in ServiceMax. GE retained a 10% equity ownership in the company.[20]

See also

References
  1. Christina Farr (November 7, 2013). "Field service software provider ServiceMax pulls in $27M, plots global expansion". Venture Beat. Retrieved October 23, 2013.
  2. Shira Ovide (March 11, 2013). "Meet the New Mobile Workers". The Wall Street Journal. Retrieved October 23, 2013.
  3. Michael Carney (May 21, 2013). "ServiceMax's SaaS platform could make training technicians and replacing software a thing of the past". Pando Daily. Retrieved October 23, 2013.
  4. Dave Yarnold (June 25, 2013). "3 ways 'forgotten industries' are being transformed with tablets". TabTimes Tablet Biz. Retrieved October 23, 2013.
  5. James Furbush (April 2013). "How iPads and a field service app transformed McKinley Equipment". Search Consumerization. Retrieved October 23, 2013.
  6. William Feldman; Patti Feldman (July 8, 2013). "Apps to streamline your workday". Contractor. Retrieved October 23, 2013.
  7. "Salesforce takes on ServiceMax, Microsoft and Oracle with new field service product". 15 March 2016.
  8. "PremjiInvest leads $82M investment round in ServiceMax". 28 August 2015.
  9. "Dreamforce '16 | October 4-7 2016 | San Francisco, CA". Archived from the original on 2016-07-13. Retrieved 2016-07-15.
  10. "All News & Press - Salesforce".
  11. Indrajit Sen (July 6, 2011). "Cloud Talk: ServiceMax builds an iPad app in just 2 weeks with Force.com". Developer Force. Retrieved October 23, 2013.
  12. P.J. Jakovljevic. "Inside Look at the Success of Cloud Field Service Provider ServiceMax—Part 1". Technology Evaluation Centers. Retrieved October 23, 2013.
  13. "Box wants to be more like Salesforce". 12 May 2015.
  14. "ServiceMax Acquires Zinc to Expand Service Execution Management Offering". www.servicemax.com. Retrieved 2019-07-23.
  15. "Software firm PTC to buy peer ServiceMax for about $1.5 bln". Reuters. 17 November 2022.
  16. "PTC Completes Acquisition of ServiceMax". PR Newswire (Press release). 4 January 2023.
  17. "ServiceMax Closes $82 Million Round Led by Premji and GE". 26 August 2015.
  18. "Field service software provider ServiceMax pulls in $27M, plots global expansion". 7 November 2012.
  19. "GE Digital buys ServiceMax for $915 million". MarketWatch. Retrieved 14 November 2016.
  20. Reuters Staff (2018-12-14). "GE's digital unit to sell majority stake in ServiceMax". Reuters. Retrieved 2020-12-02. {{cite news}}: |author= has generic name (help)
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