Quick Notes on ServiceMax’s $915 Million Exit to GE

GE announced their acquisition of ServiceMax for $915 million earlier today. ServiceMax is a SaaS company focused on field service workers. Imagine having a number of employees that work in the field (e.g. fixing and servicing products) — ServiceMax provides the management platform. From their site:

ServiceMax’s mission is to empower every field service technician in the world to deliver flawless field service and every organization to unleash the untapped growth potential of service.

Here are a few quick notes on ServiceMax:

• Founded in 2007 (~9 years to exit)
• Raised $204 million (source)
• 469 employees on LinkedIn (source)
• Revenue guess based on $200k/year/employee – $94 million
• Built 100% on Force.com (source)
• 400+ customers (source)

Congratulations to Dave Yarnold and team on building a great business!