Disclosure
Silver Lake Owns Roughly 80% of ServiceMax Alongside GE, Salesforce
“Silver Lake, who owns about 80% or some, a large percentage of the company as well as GE and then Salesforce Ventures.”
Assertion Partly supported
ServiceMax Approached $150M+ ARR With Positive Free Cash Flow
“I think the last disclosure we made was we were approaching hundred and fifty million dollars plus of ARR. So really well as getting operating profit and free cashflow positive as well.”
Insight
80% of Complex Asset Servicing Is Done by Full-Time Employees
“To serve a complex asset, you need a skilled technician to do that, right? And most of the time, 80% of the time, that's a badge employee. 20% of the time, by the way, they will train third parties and certify them.”
Assertion Not checkable as stated
Spreadsheets and Clipboards Remain ServiceMax's Primary Competition
“It's actually not our competitors, right? It's a very, we have smaller competitors. Most of it is still manual processes. You put these guys and gals out in the field and they're using their spreadsheets or their clipboards to figure out how to solve an issue.”
Prediction Not checkable as stated
Rationalizing Valuations Will Let Financially Strong SaaS Firms Consolidate
“If things continue to get rational, the way that we were starting to see in the private markets, this is going to be a great option for the strong to get stronger.”
Disclosure
ServiceMax Chose to Walk Away From Planned SPAC Transaction
“We chose not to go down and execute on the SPAC at the end, by the way, to be clear, but the, all the work that we did was huge.”
Assertion Partly supported
Brewer: Global Crossing Was Fastest Startup to Reach $15B Market Cap
“I think the fastest to get to Fifteen billion dollars of market cap at the time startup that was formed by a founder called Gary Winnick.”
Disclosure
ServiceMax Grows 20% to 35% Organically at $150M+ ARR Scale
“I target it as 30% plus on organic And organic growth that we've been getting out of the business. So we've been doing a 20 to 35% is kind of the kind of vicinity where at scale, it starts to make sense.”
Assertion Supported
Brewer: GE Acquired ServiceMax in 2016 for Close to $1 Billion
“Founders Athani and Hari built the company, actually, and was one of the hottest startups, which ultimately got sold to GE, I think in 2016, Nathan, for close to a billion dollars.”
Assertion Not checkable as stated
ServiceMax Serves Close to 400 Large Enterprise B2B Customers
“We've got over close to 400 now enterprise customers, all enterprise B to B and, you know, large enterprise to give you context.”
Assertion Not checkable as stated
ServiceMax Gross Revenue Retention Is in Mid-to-High 90s
“Yeah, we've done a great job around our retention rates are in the mid to high nineties, right? So we do a phenomenal- Gross or net? Gross.”
Assertion Not checkable as stated
ServiceMax Net Revenue Retention Ranges Between 115% and 121%
“Our net retention is in the 115, 121% range, right?”
Assertion Not checkable as stated
ServiceMax Powers Up to 400,000 of 7.8M Global Field Technicians
“There's at least 7.8 million technicians. Eight million technicians around the world to give context of why that your question around that 400 customers, how much they could continue to grow only three to 400,000 or thereabouts are technicians that are using s…”
Disclosure
Brewer: Philips Healthcare Uses ServiceMax to Dispatch Medical Technicians
“So Philips Healthcare is a great customer of ours. They procured our SaaS offering by which they have their technicians that fix those products and those medical equipment in those clinics or hospitals.”
Assertion Supported
GE Divested ServiceMax Majority Stake to Raise Cash During CEO Turnover
“Three, four CEOs went through that gamut during that timeframe and they were divesting significant portion of their company to generate and gather cash, right? And focus back into their niche of what actually created GE, what was a hundred, 150 years ago.”
Assertion Supported
Brewer: Multiple GE business units use ServiceMax for field technicians
“Quite frankly, we're a big Provider of many GE kind of business units, their ultimate utilization of our software for their field techs as well, Nathan.”
Assertion Not checkable as stated
ServiceMax Employs Approximately 580 People
“Got like 580 people.”
Assertion Not checkable as stated
ServiceMax Employs 250 Engineers
“Engineers are two 50 of that.”
Assertion Supported
LiquidFrameworks Was ServiceMax's Largest Acquisition Since Inception
“We bought liquid frameworks, our biggest M&A deals since the company was formed.”
Assertion Not checkable as stated
ServiceMax Pitched Over 100 New Investors During Abandoned SPAC Process
“A hundred plus investors that never knew about ServiceMax, being able to talk to them like we are with you, Nathan, and going into the guts is always a good thing.”
