ServiceChannel, a facilities management platform for companies to procure and manage building maintenance services, has raised $54 million in a round of funding led by Accel.
Founded out of New York in 1999, ServiceChannel offers a cloud-based platform that serves as a centralized conduit through which facility managers can find suitable contractors to carry out work, manage service requests, pay for services procured, and garner real-time data on work that has been carried out. The company claims it works with more than 450 clients across 70 countries.
ServiceChannel has raised equity and debt financing in the past, but this is the first time it has announced a dollar amount on any of its raises. The company also recently made a couple of acquisitions, including rival Big Sky Technologies last year, and Contractor Technology the year before.
ServiceChannel’s fresh cash injection will go toward helping it transform the facilities and contractor management industry with a “more modern, data-driven and automated approach,” according to a statement issued by the company.
“ServiceChannel is the first company in the industry to provide a truly modern, data-driven transaction engine and system of record to manage facilities and engage contractors,” said Accel partner Arun Mathew.
As a result of the investment, Accel partners Mathew and Rich Wong will join ServiceChannel’s board of directors.