ServiceChannel Announces $54 Million in Funding from Accel – ServiceChannel

Investment by leading venture capital firm signals a new era for facilities management and service automation
NEW YORK – May 02, 2017 – ServiceChannel, the leading SaaS platform and upright market for facilities management, today announced a $ 54 million growth finance polish led by Accel, a leading early and growth-stage venture capital firm. This new fund will be used to help the ship’s company accelerate the transformation of an $ 85 billion facilities and contractor management marketplace to a more modern, data-driven and automatize approach. Accel partners Rich Wong and Arun Mathew will join the ServiceChannel Board of Directors .
ServiceChannel, the leading SaaS platform for facilities management, announces $54 million in funding from Accel “ We are thrilled to be working with Accel to accelerate our exciting product roadmap and amply realize our mission to provide greater visibility, foil, intelligence and automation to facilities managers and commercial contractors around the global, ” said Tom Buiocchi, ServiceChannel CEO. “ Accel has backed category-defining software leaders including Atlassian, Qualtrics, Slack, Cloudera and Checkr, vitamin a well as consumer internet businesses such as Facebook, Supercell, Flipkart, Jet and Etsy. Above all, they sincerely appreciate how mod software can deliver unprecedented benefits and insights to our customers and service supplier partners. ”
ServiceChannel provides a cloud-based solution that automates facilities management professionals ’ ability to reference, measure, benchmark, cope and pay for contractor-delivered services across a wide roll of trade specialties. The company initially gained broad acceptance with leading global brands in the retail, restaurant, and convenience memory categories, and is now expanding to distributed enterprises in fiscal services, grocery, logistics, healthcare, and storage space management. Key company metrics to date include :

  • 450+ customers, representing 220,000 locations, with a presence in over 70 countries
  • 50,000 commercial contracting companies participating in the ServiceChannel market
  • $ 5 billion of customer spend processed and managed per annum
  • More than 70 million influence orders processed for customers and contractors, comprising the largest datum set of its kind in the world

“ ServiceChannel is the first company in the diligence to provide a in truth modern, data-driven transaction engine and system of record to manage facilities and betroth contractors ”, said Accel spouse, Arun Mathew. “ ServiceChannel is already the industry standard for retailers and restaurants, and has become the diligence ’ randomness unparalleled source of data and character, ” continued Rich Wong, Accel partner. “ We look forward to helping the company take the future steps in broadening its grocery store presence and extending its leadership. ”
Benefits of the ServiceChannel solution include lower costs, improved service quality, increased submission, and unprecedented transparency, and insights into facilities programs through access to objective data. Most recently, the caller introduced the first-in-the-industry machine learn and prescriptive analytics capabilities to its core platform ; its newly Decision Engine technology analyzes data draw from tens of millions of work orders across industries and geographies to help users make faster and better decisions .
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About Accel
Accel is a run venture capital tauten that invests in people and their companies from the earliest days through all phases of private ship’s company emergence. Atlassian, Braintree, Cloudera, DJI, Dropbox, Dropcam, Etsy, Facebook, Flipkart, Jet, Lookout Security, Qualtrics, Slack, Spotify, Supercell, and Vox Media are among the companies the firm has backed over the past 30 years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and bring to their strengths. Because greatness doesn ’ thyroxine have a pigeonhole. For more, chew the fat, or

About ServiceChannel
ServiceChannel provides facilities managers with a single chopine to beginning, procure, cope and pay for rectify and maintenance services from commercial contractors across their enterprise. By delivering unprecedented transparency and data-driven analytics of service quality, across all trades, locations and contractors, facilities managers drive meaning sword equity and ROI for their organizations without outsourcing or investing in fresh infrastructure. The worldly concern ’ mho leading global brands use ServiceChannel solutions day by day to help optimize millions of transactions and billions of dollars of spend annually .
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