SYS-CON MEDIA Authors: Carmen Gonzalez, Ava Smith, Scott Bampton, Elizabeth White, Glenn Rossman

News Feed Item

MaintenanceNet Strengthens Global Lead in Service Revenue-Automation Market With Investment From Kayne Partners

Data-Driven Sales Automation Innovator Engages With Alternative Investment Firm to Further Fuel Worldwide Growth and Technology Development

CARLSBAD, CA -- (Marketwired) -- 02/19/14 -- MaintenanceNet, Inc., the leading provider of service annuity solutions, today announced a partnership with Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., a $25 billion alternative investment management firm. Through the alliance, MaintenanceNet will receive a substantial investment from Kayne Partners to strengthen its lead in the service revenue-automation market and further fuel worldwide operations and ongoing technology development initiatives.

Launched in 2004, MaintenanceNet pioneered the service revenue-automation market with a goal of helping sales teams in complex tiered distribution channels sell the right service offerings while also assisting buyers to make the right service choices. Using business intelligence as the foundation for a new breed of data-driven sales and marketing automation technology, MaintenanceNet increases revenues for organizations around the globe, including the world's largest technology manufacturers and distributors and their reseller partners.

"With a diverse fund portfolio across multiple industries, Kayne Partners offers MaintenanceNet the opportunity to build upon its success as a market innovator and technology leader," said Scott Herron, the company's CEO.

Herron continued, "Ten years ago we had the foresight to create a new category of data-driven service revenue-automation technology and a value proposition that has propelled MaintenanceNet to become a profitable worldwide company with global customers who are leaders in their fields. The partnership with Kayne will not only enable us to scale further and faster globally, but to also ensure that we continue to provide our existing customers with best-in-class technology and services."

"We have partnered with Kayne because they align well with our team and demonstrated excellent synergy with the direction MaintenanceNet is heading. We're looking forward to this next phase in our growth with their support behind us," Herron added.

Product Development Ramp Up in the Works

MaintenanceNet is already ramping up product development, with new additions to its cloud-based technology platform planned for the first half of 2014. This comes on the heels of a doubling in size of business and operations in Europe and continued customer expansion across North America and the Asia-Pacific regions in 2013. At the same time, last month MaintenanceNet reported it delivered more than 2.5 billion service quotes -- to more than 20,000 resellers in 63 countries using 21 languages -- on behalf of its manufacturing customers, global distributors and their channel partners worldwide in 2013. The result was hundreds of millions of dollars in new revenue streams for these customers.

"Kayne Partners has a strong track record of partnering with innovative, high-growth companies and we are excited about our partnership with the MaintenanceNet team," said David Walsh, Managing Partner of Kayne Partners. "The company is solving a revenue generation pain-point across an entire supply chain and uncovering profits that were previously unobtainable. When we met this team and realized the amount of value that they are delivering to very happy customers, we knew that we wanted to be a part of this story. We are impressed with the ingenuity of MaintenanceNet and we greatly look forward to working together with them in the coming years."

For more information on MaintenanceNet and its complete line of product and service annuity solutions, visit www.maintenancenet.com, or follow MaintenanceNet on Facebook, Google+, LinkedIn and Twitter.

About Kayne Partners
Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P. and is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $500 million in platform investments and add-on acquisitions. Kayne Partners looks to partner with driven entrepreneurs as a non-control minority investor. For more information about Kayne Partners, visit www.kaynepartners.com.

About MaintenanceNet
MaintenanceNet empowers the world's leading manufacturers and their channel partners to expand the scope and success of their service sales initiatives. The company has delivered billions of dollars in service revenues, while also improving overall customer satisfaction and retention for the businesses it serves. The key to MaintenanceNet's success is its proficiency in turning incomplete or inaccurate customer data into actionable business intelligence that drives revenue and profits for manufacturers. MaintenanceNet's Service360 cloud-based platform and Campaign Management solution expedite and automate sales processes, and provide a channel-friendly approach to service quoting, ordering and renewing. For more information, visit www.maintenancenet.com or call 866-699-7212.

MaintenanceNet is a registered trademark of MaintenanceNet Incorporated.

Contact:
Kelly Crothers
MaintenanceNet, Inc.
+1.760.496.7575
Email Contact

Paula Johns
MaintenanceNet Public Relations
+1.760.487.1799
Email Contact

Doyl Burkett
Partner
Kayne Partners
310-282-2800

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that TMCnet has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Technology Marketing Corporation (TMC) is the world's leading business to business and integrated marketing media company, servicing niche markets within the communications and t...
As cloud gives an opportunity to businesses to buy services externally - how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, will provide answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He will also te...
Can we look to the paradigm of cloud computing from a completely different perspective? In his General Session at 15th Cloud Expo, Gundars Kulups, Sales Director at DEAC, will discuss what we can learn from our dining habits when choosing a cloud solution. Gundars Kulups is Sales Director at DEAC, full service data center operator. An IT expert, he specializes in European countries and has worke...
SYS-CON Events announced today that Parasoft will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. For 27 years, Parasoft has researched and developed software solutions that help organizations deliver defect-free software efficiently. By integrating Development Testing, API/cloud/SOA/composi...
SYS-CON Events announced today that AgilePoint, the leading provider of Microsoft-centric Business Process Management software, will exhibit at SYS-CON's 2nd International @ThingsExpo which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. AgilePoint is the leading provider of Microsoft-based Business Process Management (BPM) software products, has 1,...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and ...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / ...
We live in a time when seconds – even milliseconds – can have a dramatic economic impact on your company’s future. With technology being the primary conduit for consumer interaction, the user experience is at center stage. User experience will be a deciding factor in separating the future winners from the losers. By building more speed and agility into the application delivery process, DevOps prom...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high val...
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, will describe an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service...