New World Ventures Invests $15 million in Chicago-based SMS Assist
SMS Assist’s proprietary technology platform simplifies facilities maintenance for chain retailers
New World Ventures, Chicago’s largest technology venture capital firm, today announced a $15 million investment in Chicago-based SMS Assist, a national facilities maintenance company that uses technology to simplify critical maintenance services.
Using a proprietary technology platform, SMS Assist manages and provides critical maintenance services such as floor cleaning, snow removal, landscaping, HVAC maintenance and other interior and exterior services. The company’s technology dramatically simplifies facilities maintenance by tracking service orders, billing vendor service providers, providing compliance reporting and managing quality controls -- offering retailers a single, automated source for multiple services at all their retail locations. SMS Assist today manages 10,000 sub-contractors across more than 20,000 locations for national clients including big- and small-box mass merchants and specialty retailers.
“SMS Assist brings facilities maintenance into the 21st century,” said Matt McCall, partner at New World Ventures. “We are impressed by their exponential growth and the amazing amount of automation and technology SMS has deployed in what is traditionally a very labor-intensive industry. SMS has developed a platform that provides the highest quality service with the lowest cost structure.”
SMS Assist is the latest of New World Ventures' investments in the interconnected world – social, mobile and Internet technologies that allow users, customers and suppliers to interact, create content and reinvent business processes. Two of the firm’s other recent investments fall into this category, as well: Alliance Health Networks, which has built a world-class social networking experience for healthcare consumers seeking support and guidance, and Sittercity, America's largest and most trusted Web site connecting families with child care, pet care, eldercare, home care and tutoring solutions. New World Ventures will continue looking for investments in this area, adding to a portfolio that also includes Active Networks (NASDAQ: ACTV), Playdom, TicketsNow and Zinch.
About New World Ventures
Founded in 1996, New World Ventures is Chicago's largest and most innovative technology venture investor. With a combined 75 years of venture capital and entrepreneurial experience, a broad network of strategic relationships, thought leadership and multi-stage investment capital, New World helps entrepreneurs and management teams build market-leading information technology companies. The firm has five focus areas: next-generation commerce technologies, enterprise applications, interactive health, interconnected platforms and services, and intelligent energy systems. Unique for its tremendous flexibility with size, structure and duration of investment, New World Ventures stands on the same side of the table with entrepreneurs who simply want to build great businesses. Along with more than 50 venture investments made and the backing of The Pritzker Group run by J.B. Pritzker and Tony Pritzker, New World's partners bring a strong reputation for integrity. The firm's engagement with local and national entrepreneurship organizations, close relationships with industry-specific mentors and partners, and strong track record of success allow New World Ventures to add value for entrepreneurs and companies on day one.
