Field Service Software Developer ServiceMax Raises $71M From Kleiner Perkins, Meritech Capital

Startup ServiceMax, a company that develops field service software, has raised $71 million in Series E funding led by Meritech Capital and Kleiner Perkins with Cross Creek Advisors, QuestMark Partners, and Sozo Ventures participating. Existing investors that are following on are Emergence Capital Partners, Mayfield Fund, Trinity Ventures, Crosslink Capital, Adams Street Partners, and Salesforce.com. To date, ServiceMax has raised $120 million.

ServiceMax essentially helps manage other company’s equipment at their sites. ServiceMax software automates workforce optimization, advanced scheduling and dispatch, parts logistics, inventory and depot repair, and installed base entitlements. It helps companies who install, repair, and maintain the machines in homes, offices, and hospitals.

For example, if a technician has to fix a radiation machine at a hospital, using ServiceMax, the repair person has the customer’s history available, and knows why the machine signaled it needed repair. If the technician runs into trouble he or she can use ServiceMax’s social feature to ask for help from any of the company’s global techs and if needed, could show the specific problem to someone else over FaceTime.

The company software is used by more than 300 customers across the globe including Kodak Alaris, Coca-Cola, and Arjo Huntleigh. Industries range from oil and gas and medical device to telecommunication and utilities.

ServiceMax says it has seen triple digit growth in the past year in revenue, and bookings. And the company added more than 100 customers last year alone.

So why is ServiceMax seeing growth now? The company says the installation, maintenance, and repair sector (field service) is growing rapidly– one in ten jobs created last year was in the field service industry. The field service software industry is estimated to be a $15 billion market with more than 5 million field techs in the U.S. and tens of millions more across the globe. The expansion of mobile in the sector and the ability for field techs to use devices like tablets and the iPad have also created new opportunities.

We’re told the new financing will be used to scale product, global expansion, and sales.

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Vector Capital Makes Controlling Investment In CollabNet Developer Platform

CollabNet is one of the leading agile development platforms in the enterprise and the company behind the Subversion version control software. It has millions of users on its platform, which launched back in 1999. Today, Vector Capital is making a controlling investment in the company as part of a concurrent equity round that includes another, undisclosed investor.

The company did not disclose the size of the round, but Vector Capital currently manages over $2 billion in equity capital and typically invests from $100 million to $300 million in each of its portfolio companies.

Vector Capital may not be a household name, but the company has previously invested in companies like Corel, LANDesk, RealNetworks, Register.com and WinZip. The firm says it usually invests in companies with at least $100 million in revenue.

As Vector Capital partner Rob Amen told me, CollabNet is exactly the kind of company the firm likes to invest in. “CollabNet is a gem,” he told me. “It is rare, as a technology investor, to get an opportunity like this. It’s A

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Blinkx Founder Chandratillake Becomes Balderton Capital Partner, As Maloney Steps Back

The London VC community has been buzzing with rumors since the end of last year about one particular firm and its next moves. That firm is Balderton Capital, considered one of the few, large VC firms in Europe, with more than $1.9 billion of committed capital. Balderton was one of the main beneficiaries of the $850 million exit of Bebo to AOL, and now counts firms such as Tictail, Qubit and Vestiaire Collective in its wide portfolio. Balderton’s last fund — Fund IV — closed in 2009 at just over $480 million. In its VC peer group, Accel Europe raised

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