"The investment will accelerate our roadmap and support us in achieving our goal of turning the recording of who, what, when and how into a proactive optimal blend of suggestions and decision support," said Wai Wong, CEO of ServiceAide. "With a global customer presence, ServiceAide's Cloud Service Management product coupled with the Sigma machine learning platform will gain significant momentum."
"Arrowroot is excited to partner with Wai Wong and the ServiceAide management team," said Kareem El Sawy, Partner at Arrowroot Capital. "The team's proven track record and ServiceAide's growing momentum in its targeted SMB and MSP customer base shows a strong need for an enterprise-grade solution at the smaller customer end of the market."
Arrowroot Partner, Clem O'Donnell added, "Led by experienced executives from BEA, CA Technologies, Amdocs and Oracle, the ServiceAide team brings decades of experience, particularly in platform development, customer service and engagement management. We look forward to adding Arrowroot's deep SaaS experience to support ServiceAide through this inflection point."
About ServiceAide, Inc.
ServiceAide Cloud Service Management is a powerful yet simple to use SaaS ITSM product available worldwide. ServiceAide was created around the core concept of connecting data to create coherent information that can revolutionize business results. We accomplished this by building a solid foundation of big data and machine learning Sigma technology, combined with world class service and support. Adding to this platform, we have incorporated an already best in class Cloud Service Management (CSM) offering, providing improvements in response time, issue resolution and introducing capabilities to maximize self-care and issue prevention – all with the primary objective of increasing the business value enjoyed by ServiceAide customers. We want them to have an intuitively simple, ITIL verified, cost-effective solution that will support future growth in their respective markets. Learn more at http://www.serviceaide.com.
About Arrowroot Capital
Arrowroot Capital is a growth equity firm based in Santa Monica focused on growing and mature recurring-revenue software businesses. We seek to partner with management to accelerate growth and help guide the company to its ultimate exit. Arrowroot targets equity investments in the range of $5 million to $25 million and has the flexibility to pursue larger opportunities. Learn more at http://www.arrowrootcapital.com
Logo - http://photos.prnewswire.com/prnh/20161128/443356LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/serviceaide-completes-12-million-capital-raise-to-continue-growth-and-innovation-300369270.html
SOURCE ServiceAide, Inc.