ServiceTrade

Canaccord Genuity acts as exclusive Financial Advisor to ServiceTrade, a leading provider of software as a service (“SaaS”) applications for commercial service contractors, and Frontier Growth on a strategic investment from JMI Equity

On December 6, 2021, ServiceTrade, the leading provider of software as a service (“SaaS”) applications for commercial service contractors, announced that it has received an $85 million growth investment led by JMI Equity (“JMI”). Existing investors Frontier Growth and Bull City Venture Partners also participated in the funding.

ServiceTrade was founded in 2012 by Billy Marshall and Brian Smithwick to meet the unique and unmet technology needs of commercial service contractors. Previously, the lack of contractor-focused solutions had forced many, like Smithwick, to develop custom service management software to optimize their contracting and service management workflows. Today, ServiceTrade has more than 800 customers that manage more than 12,000 skilled technicians and generate almost $3 billion in annual service contracting revenue. The company’s applications are used widely by service contractors that provide inspection, maintenance, repair, and project services for the critical fire safety, mechanical, and electrical systems in commercial and industrial facilities.

JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 170 businesses in its target markets, successfully completed over 110 exits, and raised more than $6 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders.

Frontier Growth provides support for growth – both investment capital and operational expertise – exclusively for software companies with $5-$30 million in revenue. Frontier was founded with an intentional culture to put People Before Numbers, because it’s people that lead to real growth. With over 20 years of experience and actively investing its 5th fund, Frontier respects that each of their companies represents someone’s life’s work and helps them grow without stifling the innovation that’s made them successful.

The Canaccord Genuity team consisted of Andrew Pojani, Trevor Martin, Wesley Rossiter, and Isaac Porter.