Field service management software firm gets £60m investment boost
Joblogic, a provider of cloud-based field service management software, has announced a major investment from Axiom Equity, a business-to-business Software as a Service (SaaS) growth equity fund.
The investment, in the region of £60m, will be used to accelerate Joblogic’s international growth and product innovation, as it continues to support thousands of customers across the UK, US, and Australia.
With customers that include e-on and AXA, Joblogic offers field service management solutions that are designed to streamline workflows, improve customer service and increase profitability in the service and maintenance industry.
The company’s suite of products includes job scheduling, asset monitoring, CRM, live tracking, mobile apps, quotations, and business intelligence. Serving a variety of industries, including facilities management, HVAC, plumbing, electrical maintenance, and fire and safety.
Joblogic employs more than 200 people and is headquartered in Birmingham.
The company will continue to be led by co-founders James Whatmore (CEO) and Yacoob Moolla (COO), who together retain the majority shareholding in the company. Axiom will join the Joblogic board in a non-executive capacity. The additional funding will provide the Joblogic team with sufficient liquidity to drive the company’s growth and innovation.
“We are proud of what we have achieved to date and are excited to partner with Axiom and its operating advisers on the next phase of our growth journey,” said Whatmore.
“With its support, Joblogic is poised to become one of the world’s leading field service management software companies.”
“We were immediately impressed when we met the Joblogic team and saw the product. We knew that we wanted to back James and Yacoob with more than just capital and cannot wait to see what the team will achieve with some extra firepower at their disposal,” said Jonathan Organ of Axiom Equity.
The deal process was managed by Alantra and supported by Fieldfisher, Ashurst, Probitas Partners, Debretts, Fairgrove, Crosslake, and James Cowper Kreston.
Oliver Parker, managing director in Alantra’s Global Technology Team who led the deal team, said: “They have developed a truly best-in-class, cloud-native FSM platform with huge international potential and I look forward to following the next phase of their journey. In Axiom, with its focus on backing exciting, high-growth B2B SaaS companies, I believe they have found the ideal partner with a shared vision to really help scale the business.”
Andy Lawton Smith, Fieldfisher’s head of corporate, who acted for the company and its founders, said: “Joblogic is a great example of a tech business built by commercially astute entrepreneurs who listen to their customers and know their market. The next phase of their international development and strong growth in domestic markets will be a hugely exciting period for all involved.”
