ServiceMax

ServiceMax was founded by Athani Krishnaprasad and Hari Subramanian, who envisioned a cloud-based solution to optimize field service operations. Their innovative approach aimed to transform how companies manage their field service teams, providing tools for scheduling, dispatching, and analytics.

Over the years, ServiceMax grew steadily, attracting significant attention from investors. The company raised a total of $309 million over several funding rounds, with backing from prominent investors like Kleiner Perkins and Meritech. This financial support enabled ServiceMax to enhance its platform and expand its market reach.

A pivotal moment in ServiceMax's journey came in 2021 when the company announced plans to go public through a special purpose acquisition company (SPAC) deal valued at $1.4 billion. This move was seen as a testament to the company's growth potential and its leadership in the field service management sector.

In a strategic turn of events, ServiceMax was acquired by PTC Inc. in January 2023 for approximately $1.46 billion. This acquisition was aimed at bolstering PTC's product lifecycle management portfolio, integrating ServiceMax's capabilities to offer a more comprehensive solution to their clients.

Today, ServiceMax stands as a key player in the field service management industry, known for its robust platform that empowers companies to improve efficiency and customer satisfaction. The journey of ServiceMax from a startup to a strategic acquisition highlights the impact of innovation and strategic growth in the tech industry.