Field Service Management Software Service Fusion Raises $10M Series A from Five Elms Capital

DALLAS, July 17, 2018 /PRNewswire/ -- Service Fusion, a leading field service management software provider helping small and mid-sized field service companies streamline their businesses and increase customer satisfaction, announced today a $10M Series A investment from leading B2B software investor Five Elms Capital. The financing will be used to fuel growth and accelerate the release of new functionality for its customer base of over 2,000 service contractors.

"We are thrilled to bring in a partner with so much experience in the B2B software space," said Max Paltsev, CEO of Service Fusion. "Nearly 70% of service contractors don't use a specialized software to manage their business. This results in higher operating costs and missed opportunities to delight customers, and we are changing that with our software."

"We are beyond excited to partner with Max and the team at Service Fusion," said Ryan Mandl, Partner at Five Elms Capital. "We believe the field service industry is in the early innings of a multi-decade shift to utilizing modern software solutions to more effectively manage operations and provide a better customer experience. Service Fusion has developed an industry-leading product and reputation for serving the needs of its customer base really well, both of which we plan to build on as we work together to fuel the company's next phase of growth."

Service Fusion's rapid growth will create a significant number of new jobs in the North Texas area as the company expands its engineering, customer support, and sales operations at its headquarters just outside of Dallas. "As one of the fastest growing technology companies in Texas, we are extremely excited to be able to create more career opportunities in this region," said Paltsev. "This investment will allow us to better serve our customers' needs by adding top-notch talent to every team at Service Fusion."

About Service Fusion
Founded in late 2014, Service Fusion serves over 2,000 customers in over 20 residential and commercial service verticals. The company's award-winning field service management solution combines lightning-fast work order entry, intelligent scheduling and dispatching, instant invoicing, integrated payments, and advanced reporting with real-time communication via field worker and customer mobile applications. The company has experienced triple-digit revenue growth in every year since its inception. For more information, visit www.servicefusion.com.

About Five Elms Capital
Five Elms Capital is a leading growth equity firm that invests in fast-growing, founder-owned B2B software businesses that users love. Five Elms provides capital and resources to help companies accelerate growth and further cement their role as industry leaders. For more information, visit www.fiveelms.com.

SOURCE Service Fusion