ServiceChannel Acquisition, Valuation, Funding & Investors

ServiceChannel was acquired by Fortive for $1.2B in July 2021, a 9.6x multiple on $125M of revenue.

ServiceChannel acquisition price

$1.2B

Acquired by Fortive · Jul 2021

ServiceChannel revenue at acquisition

$125M

Last twelve months · Jul 2021

ServiceChannel revenue multiple at acquisition

9.6x

EV/Revenue · Jul 2021

Cumulative funding ServiceChannel raised

$85M

across 2 funding rounds

ServiceChannel Overview

About ServiceChannel

ServiceChannel is a facility maintenance platform enabling companies to procure, manage, and pay service providers for operations across trades. It delivers real-time web-based visibility into service data for all locations and contractors, preserving brand standards while boosting ROI. Founded in 1999, the Pleasanton, California-headquartered firm serves retail, restaurant, and multi-site enterprises without requiring new infrastructure investments.


Founded

1999

HQ

United StatesSan Francisco, CA

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$125M (Jul 2021)

Valuation

$1.2B (acquired Jul 2021)

ServiceChannel Acquisition

ServiceChannel was acquired by Fortive for $1.2B on 12 July 2021.

The acquisition price implies a 9.6x revenue multiple on $125M of revenue.

Before the acquisition ServiceChannel had raised $85M across 2 funding rounds.

ServiceChannel acquisition details
AcquirerDateTypePriceEV/Revenue
12 Jul 2021Strategic M&A$1.2B9.6x

ServiceChannel Funding History

ServiceChannel has raised a total of $85M across 2 funding rounds.

ServiceChannel's first fundraising round was a $31M undisclosed-stage round in January 2015. The most recent completed round was a $54M Series B in May 2017.

ServiceChannel funding rounds

ServiceChannel funding rounds
DateStageInvestorsRaisedDeal Summary
May 2017Series BAccel (lead); ReTool Ventures$54MServiceChannel is a SaaS platform and vertical marketplace for facilities management, automating sourcing, measuring, benchmarking, managing, and paying for contractor-delivered services across trade specialties. It serves global brands in retail, restaurant, convenience stores, financial services, grocery, logistics, healthcare, and storage, with over 450 customers representing 220,000 locations in 70+ countries as of May 2017. The platform offers benefits like lower costs, improved service quality, compliance, transparency, and insights via machine learning and prescriptive analytics on tens of millions of work orders. On May 2, 2017, ServiceChannel raised $54 million in a growth financing round led by Accel, with Rich Wong and Arun Mathew joining the board. The funds aim to accelerate transformation of the $85 billion facilities and contractor management market toward data-driven automation. Accel highlighted ServiceChannel as the industry standard for retailers and restaurants, providing a modern transaction engine and data source. Investors include Accel, Bayard Capital Partners, Odeon Capital Partners, and SJF Ventures across multiple rounds totaling $73.55M by 2021. Later, in July 2021, Fortive acquired ServiceChannel for $1.2 billion at 13x 2020 revenues of about $90-125 million (30% annual growth, break-even EBITDA in 2020, 2-3% expected 2021), with 95% North America revenue, software fees, and transactional fees on $7 billion spend (179 bps take rate).
Jan 2015Undisclosed stageReTool Ventures; Bayard Capital$31MServiceChannel is a facilities and maintenance software platform that provides work order management, preventive maintenance scheduling, and mobile solutions for multi-location enterprises and service contractors. The company serves hospitality, retail, and other commercial sectors requiring distributed workforce coordination and asset maintenance oversight. In January 2015, ServiceChannel raised $31 million in growth funding led by Bayard Capital and ReTool Ventures, reflecting investor confidence in the enterprise software market for facilities management. ServiceChannel has remained focused on providing cloud-based work order and maintenance management solutions for large enterprise customers managing complex multi-site operations.

Who has invested in ServiceChannel?

3 investors have backed ServiceChannel across its funding rounds, including ReTool Ventures, Accel and Bayard Capital.

Lead investors include Accel.


ServiceChannel Investors

Investors in ServiceChannel by funding rounds participated
InvestorHQRoundsRoleFirst check
ReTool VenturesUnited StatesUnited States2ParticipantJan 2015

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Acquisitions by ServiceChannel

ServiceChannel has acquired 2 companies to date.

Last acquisition by ServiceChannel was on February 3rd 2016. ServiceChannel acquired Big Sky Technologies for undisclosed valuation.


Latest Acquisitions by ServiceChannel

Big Sky Technologies
ServiceTechnology
Description
Big Sky Technologies is a software provider offering web and mobile applications for facility management and store operations in retail and restaurant chains. Solutions include inventory tracking, labor scheduling, asset maintenance, and point-of-sale integration accessible via cloud dashboards. Deployed by multi-location operators, the platform automates compliance reporting and real-time analytics for over 1,000 sites. Headquartered in Bozeman, Montana, the company supports franchise models with customizable modules for quick-service restaurants and grocery stores.
ServiceTechnology is a developer of workforce management software for contracting and service companies, founded in 1989 in the United States. Acquired by ServiceChannel in January 2015, its tools handle scheduling, dispatching, and technician tracking for maintenance operations. The platform integrates with service marketplaces, serving facility managers in retail and commercial real estate with mobile apps and reporting features.
HQ CountryUnited StatesUnited States
HQ City
San Diego, CA
Porterville, CA
Deal Date3 Feb 201610 Jan 2015
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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ServiceChannel Competitors

ServiceChannel competitors include listed companies like Intapp and CS Disco, and private ones like Housecall Pro, Side, PermitFlow and CarDekho.

Public and private companies comparable to ServiceChannel
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Housecall ProUnited StatesDenver, COPrivate--$1.1B-
SideUnited StatesSan Francisco, CAPrivate$30M-$2.5B83.3x
PermitFlowUnited StatesNew York City, NYPrivate--$500M-
CarDekhoIndiaGurgaonPrivate$299M-$1.2B4.0x
IntappUnited StatesUnited StatesPublicly listed$578M($16M)$2.8B4.5x
CS DiscoUnited StatesUnited StatesPublicly listed$157M($44M)$273M1.0x

ServiceChannel Public Comps

ServiceChannel is no longer listed, but its public comps include Shoucheng Holdings, Dexterra Group, RWS Holdings, Tasmea, Quess Corp, Grupo GPS, K-Bro Linen, Lassila & Tikanoja, CS Disco and Hibino.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Shoucheng Holdings$183M$79M5.8x5.8x13.4x9.1x
Dexterra Group$746M$78M1.1x1.0x10.5x8.5x
RWS Holdings$927M($26M)0.7x0.7x(27.2x)4.8x
Tasmea$920M$99M2.1x1.7x19.4x16.5x
Quess Corp$1.6B$32M0.3x0.3x16.6x15.2x
Grupo GPS$3.4B$436M0.7x0.7x5.3x6.4x
K-Bro Linen$363M$65M1.6x1.5x9.2x7.8x
Lassila & Tikanoja$488M$96M1.0x1.0x5.2x5.3x

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Common questions about ServiceChannel

When was ServiceChannel founded?ServiceChannel was founded in 1999.
Where is ServiceChannel headquartered?ServiceChannel is headquartered in San Francisco, CA, United States.
Is ServiceChannel publicly listed?No, ServiceChannel was acquired by Fortive in July 2021.
Who acquired ServiceChannel?ServiceChannel was acquired by Fortive in July 2021.
How much was ServiceChannel acquired for?ServiceChannel was acquired for $1.2B in July 2021, a 9.6x revenue multiple.
How much funding has ServiceChannel raised?ServiceChannel has raised $85M across 2 funding rounds.
What was ServiceChannel's last funding round?ServiceChannel's last funding round was a $54M Series B in May 2017, led by Accel.
Who are ServiceChannel's investors?ServiceChannel's investors include ReTool Ventures, Bayard Capital and Accel.
Which companies are comparable to ServiceChannel?Companies comparable to ServiceChannel include Housecall Pro, Side, PermitFlow, CarDekho, Intapp and CS Disco.
How many companies has ServiceChannel acquired?ServiceChannel has acquired 2 companies, including Big Sky Technologies and ServiceTechnology.

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