- Field service management software provider MSI Data announced that it received strategic growth investment from Luminate Capital Partners
MSI Data — a leading provider of field service management software — announced today that it has received a strategic growth investment from Luminate Capital Partners to support continued growth and product development. The terms of the deal were undisclosed.
MSI is known for serving mid-market and enterprise commercial, industrial, and residential field service organizations primarily in the equipment distribution and service contractor industries. And MSI’s SaaS platform enables customers to schedule and dispatch technicians, manage maintenance contracts, track warranty information, manage inventory, and complete work orders in the field.
“We founded MSI in 2010 to provide end-to-end functionality to help customers efficiently run their field services operations. We believe that our partnership with Luminate will allow us to accelerate product innovation, scale our team, and ultimately serve our customers better,” said Harvey Shovers, the CEO of MSI.
MSI’s solution is known for helping customers run operations more efficiently — which leads to higher field productivity, reduced revenue leakage, accelerated cash collection, improved expense recovery rates, and increased customer satisfaction.
“Over the last decade, Harvey and the MSI team have built a market-leading product that is highly mission-critical to customers. We are thrilled to partner with them as they continue to build their business and enter their next phase of growth,” added Hollie Moore Haynes, founder and Managing Partner at Luminate.
And Luminate partner Sanjay Palakshappa noted that they are looking forward “to helping MSI continue to innovate on product and strengthen its position in the markets it serves.”
The MSI product integrates with several leading mid-market ERP systems, enabling bi-directional communication between field service and back-office employees. Plus it has an ability to integrate with back-office systems enables customers to extend the visibility of inventory and employees outside the “four walls” of the organization. And it removes duplicate manual order entry thus reducing errors and ensuring compliance.
“We are excited to be partnering with a leader like MSI, who offers a great product and provides significant value to customers. We look forward to working with the team to continue to find ways to deliver even more value to customers and further scale the Company,” explained Mark Pierce, an Operating Partner at Luminate.
In conjunction with the funding, Haynes, Pierce, and Palakshappa are joining the MSI Board of Directors.
GrowthPoint Technology Partners acted as financial advisor to MSI Data in the transaction. And Kirkland & Ellis, LLP served as legal advisor to Luminate Capital.
