Return to Case Studies

ServiceCore

Doubling TAM Through Strategic M&A

Founded: 2015
Invested: 2022
Status: Current
Location: Lakewood, CO
Overview

ServiceCore is a provider of cloud-based business management software to the liquid waste and roll-off industries. The software is purpose-built to manage work orders, dispatch, billing, payments, and inventory for portables, septic, and roll-off businesses.

Visit Website
AT-A-GLANCE

ServiceCore and Mainsail worked together to:

  • Build out the management team with leaders in Product, Engineering, Sales, Marketing, Customer Experience and Payments, as well as an independent board chair
  • Identify, engage, and acquire Docket, doubling the size of ServiceCore’s total addressable market
  • Evaluate and optimize the combined business’ pricing strategy
  • Launch a new payments partnership and enhance existing agreements
  • Enable better systems integration, data and reporting across go-to-market motions
THE STORY

ServiceCore was founded in 2015 as an all-in-one platform helping liquid waste business owners and field workers more effectively run their companies, manage fleets and inventory, and deliver value to customers. The software is purpose-built to manage work orders, dispatch, billing, payments, inventory and more for portables, septic, and roll-off businesses.

Like many Mainsail portfolio companies, ServiceCore is a customer-first organization, obsessed with making customers’ lives easier and their businesses more profitable. Since inception, ServiceCore aimed to bring capital and innovation to the vertical markets it serves.

In February 2022, Mainsail invested $54 million in ServiceCore to help accelerate the company’s product roadmap, expand its team, and continue to support its growing customer base with innovative technology.

“Mainsail breaks the PE mold by being truly growth oriented and aligning with founders on a long-term vision for the business. They bring serious resources to the table to help you achieve that vision, including recruiting, M&A, and financing. They build their relationships based off mutual respect and a real eye-to-eye partnership.”

Jonah Chilton
CEO, ServiceCore
MAINSAIL'S VALUE ADD
Management Team Build Out

Supported by Mainsail’s Talent Team, ServiceCore built out its management team with several new leaders, including VPs of Product, Engineering, Sales, Marketing, Customer Experience and Payments, as well as an independent board chair.

Strategic M&A

Mainsail helped ServiceCore identify other software companies serving roll-off businesses that, when combined with the ServiceCore platform, could expand the value delivered to customers and the company’s total addressable market (TAM). Mainsail identified and engaged Docket, a cloud-based ERP for dumpster rental and junk removal businesses, as a target and then led the process for ServiceCore to acquire Docket in 2023. The combination of ServiceCore and Docket accelerated growth for both businesses by enabling them to reach adjacent markets with purpose-built software solutions for each vertical.

Payments Partnership

Mainsail enhanced ServiceCore’s existing agreements with payments partners as well as identified and integrated new partners to help optimize its payments solution. Early in the company’s payments integration journey, Mainsail also helped ServiceCore structure a team to run that line of business, and, later, to hire a VP of Payments to elevate its impact on business growth and customer success.

Pricing Optimization

Mainsail’s in-house pricing team worked with ServiceCore to review and optimize its pricing strategy across the business, as well as following the acquisition of Docket to help increase annual contract value (ACV).

Revenue Operations

Mainsail’s support within the go-to-market function helped ServiceCore lay the foundation for continued growth with better data, systems integration, and automation. Project work included CRM optimization, database enrichment, marketing attribution, workflow building, and market expansion analyses.

OUTCOMES

With Mainsail serving as its corporate development engine, ServiceCore was able the double its TAM just one year after Mainsail’s initial investment. The strategic acquisition of Docket not only gave both companies access to naturally adjacent markets, but it also armed them with specific software solutions and features to effectively meet the unique needs of customers in each market.

In the three years since partnering with Mainsail, ServiceCore also effectively expanded its management team with key leadership roles and elevated several critical drivers of business growth. As of late 2024, the company has helped customers complete more than 3.5 million jobs, track more than 550,000 sanitation, dumpster and other units, and process more than $400M in revenue.