European law firm Fieldfisher has advised field service management software experts Joblogic on an investment in the region of £60 million from B2B Software as a Service (SaaS) growth equity investor Axiom Equity.
The funding will allow Joblogic to accelerate its global expansion and product innovation plans, as it continues to support thousands of customers across the UK, US, and Australia.
With customers that include e-on and AXA, Joblogic offers field service management solutions that are designed to streamline workflows, improve customer service and increase profitability in the service and maintenance industry.
The company's suite of products includes job scheduling, asset monitoring, CRM, live tracking, mobile apps, quotations, and business intelligence. Serving a variety of industries, including facilities management, HVAC, plumbing, electrical maintenance, and fire and safety, Joblogic employs more than 200 people and is headquartered in Birmingham, UK.
The company will continue to be led by co-founders James Whatmore (CEO) and Yacoob Moolla (COO), who together retain the majority shareholding in the company. Axiom will be represented on the Joblogic board.
The deal was the latest in Fieldfisher's already busy portfolio of growth equity transactions for 2023. Last year, the firm advised on venture capital and growth equity deals with a combined value in excess of U$1.3 billion, of which 56% (US$735 million) was accounted for by technology-related transactions.
The Fieldfisher team advising Joblogic on its investment from Axiom Equity was led by Head of Corporate in Birmingham, Andy Lawton Smith, assisted by director Rita Clare, associate Sundeep Thandi, trainees Thomas Karnik and Sinead Thomasson, tax partner Andrew Prowse, associate Shamima Khan, technology director Michael Butterworth, associate Emma Yaltaghian, equity incentives partner Mark Gearing and solicitor Jessica Kilkelly.
Commenting on the deal, Andy Lawton Smith said:
"This is a fantastic deal for a fast-growing Birmingham-based business with an existing international footprint and huge international ambitions.
"Joblogic is a great example of a tech business built by commercially astute entrepreneurs who listen to their customers and know their market. The next phase of their international development and strong growth in domestic markets will be a hugely exciting period for all involved.”
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