Joblogic, a cloud-based field service management software specifically designed to provide its clients with a complete solution for service and maintenance contractors, recently announced that it has raised $73 million (£60 million) in growth funding from Axiom Equity, a B2B SaaS growth equity fund. The deal process was managed by Alantra and supported by Fieldfisher, Ashurst, Probitas Partners, Debretts, Fairgrove, Crosslake, and James Cowper Kreston.
With this investment round, the Birmingham-based firm plans to accelerate product innovation and continue to support thousands of existing customers in the UK, US and Australia.
Co-founded by James Whatmore and Yacoob Moolla, Joblogic helps to build maintenance contractors and achieve rapid growth by streamlining workflows, improving customer service and increasing profitability. With global offices and over 200 employees, the platform’s suite of products includes job scheduling, asset monitoring, CRM, live tracking, mobile apps, quotations, and business intelligence. It serves a variety of industries, including facilities management, HVAC, plumbing, electrical maintenance, and fire and safety.
Commenting on the fundraising, Co-founder & CEO of Joblogic, James Whatmore, said:
We are proud of what we have achieved and are excited to partner with Axiom and their operating advisers on the next phase of our growth journey. With their support, Joblogic is poised to become one of the leading global field service management software companies.
The startup will continue to be led by Co-founders James Whatmore and Yacoob Moolla (COO), who retain the majority shareholding together. Axiom will join the Joblogic board in a non-executive capacity.
Joblogic maintains the highest level of compatibility within the industry’s standards, covering a diverse array of industries. It is a single system aimed at connecting the back office, mobile workforce and customers while enabling the organisation to improve overall productivity.
Founding Partner of Axiom Equity, Jonathan Organ, added:
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.
Richard Sanders, Senior Partner of Alantra’s Midlands office, commented:
Axiom’s investment in Joblogic further highlights the strength of the Midlands as a hub for some of the UK’s most successful, fast-growing software businesses. Alantra’s Technology team has raised around £1bn from private equity investors to invest in leading Midlands technology businesses over the last year. We expect deal activity in the region to remain buoyant as we continue to support businesses with their plans for growth and M&A.