Advantage Capital announced a $3.1 million investment in Servicengine, a Danbury, Connecticut-based SaaS company specializing in relocation management software. The funding will enable Servicengine to double its team and enhance its innovative platform, supporting the complex needs of relocation management companies (RMCs) and corporations navigating global workforce challenges.
Servicengine offers solutions for relocation logistics, including expense management, tax compliance, vendor coordination, and immigration services. And with nearly 2 million employee relocations annually, the company is positioned for significant growth.
The funding from Advantage Capital was made in connection with the InvestCT program, which opens funding opportunities to entrepreneurs looking to grow their businesses in the state. According to the Connecticut Department of Economic Community Development, the program created over 1,500 jobs between 2016 and 2023.
It has been instrumental in funneling financing to small businesses and targeted municipalities that have historically lacked investment, as well as pre-seed and early-stage companies looking to get their start in the state.
KEY QUOTES:
“As relocation management companies face increased pressure to streamline operations and expand in-house capabilities, Servicengine’s platform provides a powerful tool to manage both complex and lower cost moves efficiently. This funding comes at a critical time in our growth trajectory, helping to accelerate our expansion and support job creation here in Danbury.”
- Thomas Franssen, Jr. President, Servicengine
“We are pleased to be part of Servicengine’s growth story. The company is driving innovation in the RMC market, opening opportunities for corporations to directly manage lower cost moves, enhancing efficiency and affordability. We’re proud to support their job creation and economic activity in Danbury.”
- Tim Perusek, Principal, Advantage Capital
