Web: ServiceMax Closes $82M Round Led by Premji and GE

August 2015 by: From The Web

ServiceMax, a company that has built a cloud-based application that companies use to manage the process of servicing and maintaining equipment, said Wednesday it has closed an $82 million round of funding.

The Series F round was led by PremjiInvest, the investment firm known for overseeing the personal wealth of Indian tech billionaire Azim Premji; the industrial giant GE; and PTC, a manufacturing technology company best known as the owner of Thingworx, an industrial Internet-of-Things outfit. The round brings ServiceMax’s total capital raised to $202 million. Its last investment came last year when it raised $71 million in a round led by Meritech Capital.

Another investor is Salesforce.com; ServiceMax is notable in part because its entire service is built on Salesforce’s Force.com platform. That means the computing and software infrastructure used to build it is the same used to power Salesforce.


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