MSI Data and Luminate Capital Partners Announce Strategic Growth Investment
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 ultimatel 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
About Luminate Capital Partners
For Luminate Capital: Chris Tofalli
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SOURCE Luminate Capital Partners