IRVINE, CA, Mavenlink, the leading provider of cloud-based software for the modern services organization, today announced $48 million in Series E financing.
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The round was led by existing investors, Carrick Capital Partners and Goldman Sachs Growth Equity.
"We've been impressed with the Mavenlink team since the early days, and we're proud to be increasing our investment to help the business continue to expand and pursue its vision," said Jim Madden, co-founder and managing director at Carrick Capital Partners and Mavenlink board member. "It's a great market opportunity for Mavenlink and service providers alike."
Mavenlink's award-winning technology unifies all essential functions of services organizations, allowing them to plan and deliver work, manage project financials and resources, and collaborate with distributed teams and clients. By centralizing all critical operational processes and related business data on a single platform, Mavenlink offers these organizations unrivaled productivity, visibility, and control, which leads to significantly improved business performance.
"Mavenlink helps services firms unlock their potential, do their best work, and thrive, and we're excited to continue supporting that mission," said Mark Midle of Goldman Sachs Growth Equity, and Mavenlink board member. "We look forward to what the future holds for Mavenlink and its clients."
Recently named to Deloitte's Fast 500 as one of the fastest growing companies based in North America, and recognized as a leader by G2Crowd in both the Best Professional Services Automation and Best Project Management Software Market Grids, Mavenlink today is leveraged by thousands of professional services and marketing services organizations. The company's growing client base includes progressive companies like Salesforce.com, Qualtrics, Vizient, WPP, Genpact, IPG, and Cornerstone OnDemand.
"It's such an exciting time to be serving professional and marketing services industries," said Ray Grainger, Mavenlink CEO and co-founder. "The tide is rising, businesses are growing, competition is heating up, and there's tremendous need for process and technology transformation in order to compete and thrive in the years ahead. We're thrilled to be enabling that transformation and leverage this additional investment capital to accelerate our next waves of innovation."
Mavenlink, named a Glassdoor Best Place to Work in 2017, continues to expand its global workforce, with four U.S. locations, and three international offices including London, Melbourne, and the Philippines. In the coming months, the company has plans for additional global expansion.
Visit www.mavenlink.com to learn more.
Mavenlink is the modern software platform for professional and marketing services organizations. It is the only solution that helps services firms establish an operational system of record that facilitates their business lifecycle, including key capabilities like resource management, project management, collaboration, project accounting, and Business Intelligence. Services organizations in more than 100 countries are improving operational execution, increasing agility, and driving improved financial performance with Mavenlink. Mavenlink was recently named one of the fastest growing companies in North America by Deloitte, is the only solution to be listed as a Leader in both G2 Crowd's Best Professional Services Automation and Best Project Management Software grids, and has been recognized as a Glassdoor Best Place to Work. Learn more at www.mavenlink.com.