ServiceCore Announces $54M Investment from Mainsail Partners to Recapitalize the Company and Scale
Note: The PSAI is committed to bringing industry news to our members. It creates original content and aggregates news from other sources. Unless otherwise stated in organizational documents or in Association insights newsletters, the PSAI does not have or take a position on the content of news items from other sources.
A leading management software platform for the liquid waste industry plans to use funds to accelerate its product roadmap.
ServiceCore, a provider of cloud-based business management software purpose-built for the liquid waste and roll-off industries, on Feb. 15 announced a $54 million investment from Mainsail Partners, a growth equity firm focused on investments in fast-growing software companies. The capital will be used to buy out Full In Partners, the original investor in ServiceCore, and put money on the balance sheet to scale the company.
ServiceCore was founded in 2015 and built an all-in-one platform to help customers in the liquid waste and roll-off industry get their jobs done, get paid, and provide better service to their customers. The software is built to manage work orders, dispatch, billing, payments, and inventory for portables, septic, and roll-off businesses. The company plans to use the capital to accelerate ServiceCore’s product roadmap, expand its customer success team, and continue to support its growing customer base.
“ServiceCore has always been ambitious,” said Jonah Chilton, CEO of ServiceCore. “We are a customer-first organization that obsesses about making our customers’ lives easier and their businesses more profitable. We want to help move our industry forward by bringing capital and innovation. By partnering with Mainsail, we believe we now have the financial and operational means to accelerate our product roadmap and enhance the platform to better serve our customers.”
ServiceCore is an all-in-one solution designed to significantly improve processes, save time, and reduce costs with features like advanced route optimization, automated batch billing, online customer payments, inventory availability forecasting, and a mobile driver application. Employees ranging from customer service representatives, dispatchers, drivers, accounting staff and executives rely on ServiceCore daily to manage their operations. ServiceCore also services roll-off companies that provide dumpster rentals at construction sites and waste collection services.
“We are proud to partner with the team at ServiceCore which is serving the needs of a historically underserved market,” said Jason Frankel, Partner at Mainsail. “ServiceCore is helping liquid waste business owners and field workers more effectively run their companies, manage their fleets and inventory, and deliver even greater value to their customers.”
Mainsail Partners’ Jason Frankel and Vinay Kashyap will join the board of directors at ServiceCore.
ServiceCore is an easy-to-use software built specifically for your liquid waste and roll-off business that will help you get your jobs done, get paid, and provide better service to your customers. ServiceCore is headquartered in Lakewood, Colorado, USA. Visit www.servicecore.com for additional information.
Mainsail Partners is a growth equity firm with offices in San Francisco and Austin that invests in fast-growing, bootstrapped software companies. The firm has raised over $1.3 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.