San Jose, CA – November 29, 2016 – ServiceAide Inc., a leader in IT Service Management for small and medium businesses globally, announced today that it has completed a $12 million funding round led by Arrowroot Capital. Within SMBs and the MSPs that serve them, ITSM is often the single catalog and control point of available services, products and change requests. ServiceAide’s ITSM SaaS offering provides powerful features that are easy to learn and very user friendly, making it the solution of choice for SMBs and MSPs worldwide. ServiceAide will use the investment to bolster its sales and marketing efforts and continue on its product development roadmap as a leading innovator in this space.
The company is introducing machine learning into its products to drive optimization on all fronts of any service interaction. To the service provider – an increase of efficiency based around optimal resolution support, best situational routing and incident avoidance. To the customer/end-user – a dramatic increase around customer experience and critical self-enablement and self-help support.
“The investment will accelerate our roadmap and support us in achieving our goal of turning the recording of who, what, when and how into a proactive optimal blend of suggestions and decision support,” said Wai Wong, CEO of ServiceAide. “With a global customer presence, ServiceAide’s Cloud Service Management product coupled with the Sigma machine learning platform will gain significant momentum.”
“Arrowroot is excited to partner with Wai Wong and the ServiceAide management team,” said Kareem El Sawy, Partner at Arrowroot Capital. “The team’s proven track record and ServiceAide’s growing momentum in its targeted SMB and MSP customer base shows a strong need for an enterprise-grade solution at the smaller customer end of the market.”
Arrowroot Partner, Clem O’Donnell added, “Led by experienced executives from BEA, CA Technologies, Amdocs and Oracle, the ServiceAide team brings decades of experience, particularly in platform development, customer service and engagement management. We look forward to adding Arrowroot’s deep SaaS experience to support ServiceAide through this inflection point.”
About ServiceAide, Inc.
ServiceAide Cloud Service Management is a powerful yet simple to use SaaS ITSM product available worldwide. ServiceAide was created around the core concept of connecting data to create coherent information that can revolutionize business results. We accomplished this by building a solid foundation of big data and machine learning Sigma technology, combined with world class service and support. Adding to this platform, we have incorporated an already best in class Cloud Service Management (CSM) offering, providing improvements in response time, issue resolution and introducing capabilities to maximize self-care and issue prevention – all with the primary objective of increasing the business value enjoyed by ServiceAide customers. We want them to have an intuitively simple, ITIL verified, cost-effective solution that will support future growth in their respective markets. Learn more at http://www.serviceaide.com.
About Arrowroot Capital
Arrowroot Capital is a growth equity firm based in Santa Monica focused on growing and mature recurring-revenue software businesses. We seek to partner with management to accelerate growth and help guide the company to its ultimate exit. Arrowroot targets equity investments in the range of $5 million to $25 million and has the flexibility to pursue larger opportunities. Learn more at http://www.arrowrootcapital.com.