MILWAUKEE and SAN FRANCISCO, Sept.
11, 2019 /PRNewswire/ -- MSI Data, a leading provider of
field service management software, announced today that it has
received a strategic growth investment from Luminate Capital
Partners, a San Francisco-based
private equity firm, to support continued growth and product
development.
MSI serves mid-market and enterprise commercial, industrial, and
residential field service organizations, primarily in the equipment
distribution and service contractor industries. The Company'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. The solution
helps 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.
MSI's product integrates with several leading mid-market ERP
systems, enabling bi-directional communication between field
service and back-office employees. Its ability to integrate
with back-office systems enables customers to extend visibility of
inventory and employees outside the "four walls" of the
organization. Further, it removes duplicate manual order
entry, reducing errors and ensuring compliance.
"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, CEO of MSI.
"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," said
Hollie Haynes, Founder and Managing
Partner at Luminate. Sanjay
Palakshappa, Partner at Luminate, added "We look forward to
helping MSI continue to innovate on product and strengthen its
position in the markets it serves."
"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," said Mark Pierce,
Operating Partner at Luminate.
In connection with the investment, Hollie Haynes, Mark
Pierce, and Sanjay
Palakshappa from Luminate will join the MSI Board of
Directors.
Financial terms of the transaction were not disclosed.
GrowthPoint Technology Partners acted as financial advisor to MSI
Data in the transaction. Kirkland & Ellis, LLP served as legal
advisor to Luminate Capital.
About MSI Data
MSI Data is a leading provider of field services management
software to commercial field services organizations. The Company
enables their customers to manage their entire field services
operations, from the back office to the field, on one SaaS
platform. Located in Milwaukee,
WI, MSI Data serves customers primarily based in
North America. Learn more at
https://www.msidata.com/.
About Luminate Capital Partners
Luminate Capital
Partners is a private equity firm focused on making investments in
enterprise software companies. Luminate partners with management
teams to provide capital to drive strategy, growth, and operational
improvements. Luminate's portfolio of market leaders has
included AMT, AutoQuotes, Comply365, Conexiom, LiquidFrameworks,
Oversight Systems, PDI, Fintech, and StarCompliance. For more
information, visit www.luminatecapital.com.
Contacts:
For MSI Data: Mike Pandl
262.292.5047
mike.pandl@msidata.com
For Luminate Capital: Chris
Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
chris@tofallipr.com
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SOURCE Luminate Capital Partners