Photo Credit: Mavenlink
Irvine, California-based Mavenlink is a SaaS platform company built for professional and marketing services organizations that are considered the only solution that helps services firms establish an operational system of record to facilitate the business lifecycle including capabilities like resource management, project accounting, and Business Intelligence. To fuel the growth of the company, Mavenlink recently announced it raised $48 million in Series E funding led by existing investors, Carrick Capital Partners, and Goldman Sachs Growth Equity.
“It’s such an exciting time to be serving professional and marketing services industries,” said Mavenlink CEO and co-founder Ray Grainger in a statement. “The tide is rising, businesses are growing, competition is heating up, and there’s tremendous need for process and technology transformation in order to compete and thrive in the years ahead. We’re thrilled to be enabling that transformation and leverage this additional investment capital to accelerate our next waves of innovation.”
Mavenlink’s technology unifies all of the essential functions of services organizations and it enables them to plan and deliver work, manage financials and resources, and collaborate with distributed teams. And the company’s technology increases the productivity, visibility, and control for companies as all critical operational processes are centralized.
“We’ve been impressed with the Mavenlink team since the early days, and we’re proud to be increasing our investment to help the business continue to expand and pursue its vision,” added Carrick Capital Partners co-founder and managing director Jim Madden and Mavenlink board member. “It’s a great market opportunity for Mavenlink and service providers alike.”
Mavenlink has four U.S. locations and three international offices including London, Melbourne, and the Philippines. And the company will be expanding globally in the coming months. Mavenlink’s technology is used by companies across more than 100 countries. Some of Mavenlink’s customers include Salesforce.com, Qualtrics, Vizient, WPP, Genpact, IPG, and Cornerstone OnDemand.
“Mavenlink helps services firms unlock their potential, do their best work, and thrive, and we’re excited to continue supporting that mission,” explained Goldman Sachs Growth Equity investor and Mavenlink board member Mark Midle. “We look forward to what the future holds for Mavenlink and its clients.”
