January 19, 2015
ServiceChannel Investment Provides Successful Exit for SJF Ventures
January 20, 2015 – SJF Ventures is pleased to announce that Bayard Capital has partnered with ServiceChannel and provided growth capital for the company. As part of the transaction, SJF received proceeds that generated a successful return on its investment.
ServiceChannel is a New York-based Software-as-a-Service company that allows facilities managers and contractors to collaborate effectively. More than 200 brands, including the top 5 U.S. retailers, use ServiceChannel each day at over 120,000 locations in 63 countries.
SJF first invested in ServiceChannel in December 2008, representing the only venture investment in a Long Island-headquartered company during the fourth quarter of 2008. SJF’s partnering with ServiceChannel in the middle of the U.S. financial crisis represented a testament to ServiceChannel’s strong customer relationships. Since that time, the volume of business processed each year by ServiceChannel has experienced explosive growth, and the company has established itself as the leading technology-driven solution for facilitating work between facilities managers and contractors.
Bayard Capital, which most recently helped Landis+Gyr become one the world’s largest smart metering companies, brings additional resources and experience for developing and integrating energy efficiency solutions and other products to extend ServiceChannel’s platform.