ServiceTrade Funding, Investors & Competitors

ServiceTrade has raised $119M across 3 funding rounds, most recently a $85M undisclosed-stage round in December 2021.

Last ServiceTrade funding round

$85M

Undisclosed stage · Dec 2021

Cumulative funding ServiceTrade raised

$119M

across 3 funding rounds

Key investors in ServiceTrade

  • Bull City Venture Partners
  • Frontier Growth
  • JMI Equity

ServiceTrade Overview

About ServiceTrade

ServiceTrade is a field service management software platform tailored for commercial service contractors in HVAC, plumbing, electrical, and refrigeration sectors. Charlotte-based ServiceTrade equips businesses with mobile apps for scheduling, dispatching, and customer communication to streamline operations and boost service delivery. The platform integrates with QuickBooks and other accounting tools for seamless invoicing and reporting. ServiceTrade serves thousands of contractors across North America, enabling real-time visibility into job progress and customer feedback. Founded in 2009, the company expanded internationally and partnered with major industry associations like ACCA.


Founded

2012

HQ

United StatesDurham, NC

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

ServiceTrade Funding History

ServiceTrade has raised a total of $119M across 3 funding rounds.

ServiceTrade's first fundraising round was a $4M seed round in May 2015. The most recent completed round was a $85M undisclosed-stage round in December 2021.

ServiceTrade funding rounds

ServiceTrade funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2021Undisclosed stageJMI Equity (lead); Frontier Growth; Bull City Venture Partners$85MServiceTrade is a leading provider of software-as-a-service (SaaS) applications designed specifically for commercial service contractors. Founded in 2012 by Billy Marshall and Brian Smithwick, the company offers mobile and web applications that streamline service operations, increase service sales, and enhance customer engagement. The applications are used widely by service contractors providing inspection, maintenance, repair, and project services for critical fire safety, mechanical, and electrical systems in commercial and industrial facilities. On December 6, 2021, ServiceTrade announced an $85 million growth investment led by JMI Equity, with existing investors Frontier Growth and Bull City Venture Partners also participating in the funding round. According to the company, prior to ServiceTrade's founding, commercial and industrial service contractors relied on software not designed for their specific business models, often preferring on-premise server solutions. The company stated it had over 800 customers and positioned itself as the market leader for customer service technology in the commercial contractor space at the time of the funding announcement. The investment was intended to accelerate new product development and innovation to meet heightened demand from commercial service contractors, with the capital supporting the company's ability to deliver more tailored technology solutions to help contractors build premium brands, sell more services, and retain customers longer.
Aug 2020Undisclosed stageFrontier Growth (lead); Bull City Venture Partners$30MServiceTrade is a Durham, NC-based SaaS provider of field service management software for commercial service contractors in fire protection, mechanical, and electrical industries, founded in 2012 by Billy Marshall and Brian Smithwick. The company helps contractors streamline operations, dispatch technicians, provide online customer service, and increase revenue and profitability, serving over 500 customers at the time of the August 4, 2020 growth investment from Frontier Growth, with participation from existing investor Bull City Venture Partners. Funds aim to accelerate technology innovations and expand presence in the commercial service sector. Canaccord Genuity served as financial advisor. Later, in December 2021, ServiceTrade raised $85 million led by JMI Equity, with Frontier Growth and Bull City Venture Partners participating; by then, it had over 800 customers managing 12,000 technicians generating nearly $3 billion in annual service revenue (customer revenue, not ServiceTrade's). Frontier Growth targets software companies with $5-$30 million in revenue.
May 2015Seed-$4MServiceTrade raised $4.1 million in a funding round in 2015. No further details on valuation, investors, or use of funds for this round are available in sources.

Who has invested in ServiceTrade?

3 investors have backed ServiceTrade across its funding rounds, including Bull City Venture Partners, Frontier Growth and JMI Equity.

Lead investors include JMI Equity and Frontier Growth.


ServiceTrade Investors

Investors in ServiceTrade by funding rounds participated
InvestorHQRoundsRoleFirst check
Frontier GrowthUnited StatesCharlotte, NC2LeadAug 2020

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Acquisitions by ServiceTrade

ServiceTrade has acquired 3 companies to date.

Last acquisition by ServiceTrade was on June 29th 2026. ServiceTrade acquired Mura for undisclosed valuation.


Latest Acquisitions by ServiceTrade

Mura
NorthBoundary
Asurio
Description
Mura is a software provider offering AI automation for order-to-cash workflows in the HVAC industry. The platform processes purchase orders, reconciles invoices, and accelerates payments by integrating with ERP systems like ServiceTitan and Housecall Pro. Headquartered in Denver, Mura serves field service businesses in North America to reduce billing delays by up to 70 percent.
NorthBoundary is a Vancouver-based provider of sales automation software and commercial mechanical contracting services. The platform delivers customized CRM tools for HVAC, plumbing, and construction firms, featuring quote generation, project tracking, inventory management, and mobile field service apps. NorthBoundary supports sales teams with AI-driven lead scoring and integrates with QuickBooks and Autodesk. The contracting division installs heating, ventilation, and piping systems for commercial buildings across Western Canada.
Asurio is a Phoenix-headquartered software platform that automates audit workflows and inspection data management for compliance teams. The system streamlines data collection via mobile apps, enables secure sharing across stakeholders, and generates customizable reports for industries including manufacturing, energy, and construction. Asurio integrates with enterprise tools like Salesforce and Microsoft Power BI to centralize evidence from audits, reducing manual processes by facilitating real-time collaboration and automated notifications. Founded in 2018, the company targets EHS professionals with features for risk assessment and regulatory adherence.
HQ CountryUnited StatesUnited StatesUnited States
HQ City
New York City, NY
Daytona Beach, FL
Boulder, CO
Deal Date29 Jun 202610 Nov 20221 Sep 2022
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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ServiceTrade Competitors

ServiceTrade competitors include listed companies like Constellation Software, SS&C Technologies and Topicus, and private ones like Rippling, The Deployment Company and Clio.

Public and private companies comparable to ServiceTrade
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Constellation SoftwareCanadaCanadaPublicly listed$12B$2.5B$43B3.5x
SS&C TechnologiesUnited StatesUnited StatesPublicly listed$6.3B$2.1B$19B3.9x
RipplingUnited StatesSan Francisco, CAPrivate$570M-$17B29.5x
The Deployment CompanyUnited StatesSan Francisco, CAPrivate--$14B-
TopicusNetherlandsNetherlandsPublicly listed$1.8B$393M$5.4B3.0x
ClioCanadaVancouverPrivate$400M-$5B12.5x

ServiceTrade Public Comps

ServiceTrade is still privately-owned, but its public comps include Constellation Software, SS&C Technologies, Topicus, Intapp, RWS Holdings, CS Disco, Hibino, Xp Industrial FII, GetBusy and Valtes Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Constellation Software$12B$2.5B4.0x3.5x18.5x12.9x
SS&C Technologies$6.3B$2.1B4.2x3.9x12.4x10.0x
Topicus$1.8B$393M3.4x3.0x15.3x10.6x
Intapp$578M($16M)4.6x4.5x(164.3x)20.9x
RWS Holdings$927M($26M)0.7x0.7x(27.2x)4.8x
CS Disco$157M($44M)1.1x1.0x(4.0x)(22.1x)
Hibino$435M$60M0.6x0.6x4.3x-
Xp Industrial FII$9M-10.0x---

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Common questions about ServiceTrade

When was ServiceTrade founded?ServiceTrade was founded in 2012.
Where is ServiceTrade headquartered?ServiceTrade is headquartered in Durham, NC, United States.
Is ServiceTrade publicly listed?No, ServiceTrade is a private, VC-backed company.
How much funding has ServiceTrade raised?ServiceTrade has raised $119M across 3 funding rounds.
What was ServiceTrade's last funding round?ServiceTrade's last funding round was a $85M undisclosed-stage round in December 2021, led by JMI Equity.
Who are ServiceTrade's investors?ServiceTrade's investors include Frontier Growth, Bull City Venture Partners and JMI Equity.
Which companies are comparable to ServiceTrade?Companies comparable to ServiceTrade include Constellation Software, SS&C Technologies, Rippling, The Deployment Company, Topicus and Clio.
How many companies has ServiceTrade acquired?ServiceTrade has acquired 3 companies, including Mura, NorthBoundary and Asurio.

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