Toronto, Canada—May 17, 2016—The first quarter of 2016 saw unparalleled growth for Maintenance Assistant Inc, the industry leading provider of cloud-based maintenance and asset management software.
Following record numbers in 2015, the company secured $5 million in a Series A round led by BuildGroup.
“One of our priorities is investing in people so we can increase our scope and continue to expand the reach of our platform to all corners of the market,” says Marc Castel, CEO of Maintenance Assistant.
“Our headcount rose by 40% in Q1. It’s an extremely exciting time for us, and the goal is to continue down this path.”
Maintenance Assistant’s innovative, cloud-based solution has been a disruptive force in a market traditionally dominated by complex, on-premises models. The simplicity and easy workflow of the company’s platform resulted in significant customer growth through Q1—an increase of more than 50% over the same period last year.
This translated into the best revenue quarter in company history.
“We’re putting the Series A funding to work and investing in our platform. There is massive demand in maintenance and asset management for a product that’s not just different but better, and we’re focused on addressing that demand,” says Castel.
The global enterprise asset and field service management market is booming and is projected to reach $4.6 billion in 2019.
The appearance of SaaS and cloud-based products has had the dual effect of chipping away at the revenues of industry giants, while simultaneously making maintenance and asset management software available to more customers than ever, because of the low cost of implementation.
Maintenance Assistant is focused on addressing these high growth prospects and will continue to confront the status quo with a flexible, cloud-based solution that is built to tackle the challenges of the enterprise market.
About Maintenance Assistant
Maintenance Assistant provides cloud-based maintenance and asset management software to thousands of customers around the world. Incorporated in 2008 and headquartered in Toronto, Canada, Maintenance Assistant’s products are used by organizations of all sizes to properly handle corrective, preventative and condition-based maintenance for equipment and assets. Learn more at www.maintenanceassistant.com.