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!

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

  1. I would like to see a post about the $200 k per employee revenue comment. For early stage companies and startups, that could be a very helpful sanity check of early stage financials. Have any further info on that?

  2. I always saw these guys as next in line for a Salesforce.com acquisition so kudos to GE for getting in and realising first. Force.com dependancy will be interesting for GE from here however.

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