Sera Systems Inc., a Grapevine-based SaaS service for small-to-large size HVAC, plumbing, and other field service businesses, has closed what it called “an eight-figure Series B funding round,” composed entirely of private equity from the field service industry it serves—owners of home service businesses.
Founder and CEO Billy Stevens
While not releasing the exact amount, Sera said it closed the oversubscribed funding round with a market cap three times the value the company had at the close of its Series A round in November 2021.
“As field service business owners themselves, these investors know better than anyone how effective Sera is,” CEO and founder Billy Stevens said in a statement. “They fully appreciate the impact Sera is having on the industry and they want to be part of it.”
Stevens said the funding is a result of Sera’s continued strong growth and recognition of its unique ability to boost its customers’ operating margins by more than 40% within six months after installing Sera.
He said the Series B round was oversubscribed because demand was greater than the amount the company was looking for.
“We actually had people calling us, so we increased the ceiling to help accommodate the demand,” he said.
Provides efficiency gains by automating scheduling, dispatching, and more
Sera said it provides efficiency gains by automating routine tasks such as scheduling and dispatching. It says its field service management software is the first in the industry designed to ensure that higher efficiency results in increased profitability by incorporating each subscribing business’ financial data.
Another unique capability is the company’s ability to track each minute of each employee’s time to provide an accurate assessment of job time efficiency, Sera said.
Stevens added that investors have been impressed with how easy Sera is to learn and use, which makes it popular with employees.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
The Coppell-based startup said it will use the proceeds to advance and scale its Digital Medical Home, which includes diagnostic-enabled Virtual Primary Care and Virtual Behavioral Health Solutions tailored to fit the healthcare needs of any population. Recuro integrates advanced science, data, at-home diagnostics, and targeted genomics for cancer screening and pharmacogenomics "to better inform integrated care," the company says.
Island, a Dallas-based unicorn that emerged from stealth last February, was valued at $1.3 billion in March. It continues to attract big investments for its Enterprise Browser, which protects companies' SaaS tools and internal web apps from data leaks with a long list of security features. "Being able to further validate our valuation, even with the headwinds facing the broader market, is an honor,” Island CEO and co-founder Mike Fey said.
More than 30 local artists are teaming up to help bring a one-of-a-kind experience to Meow Wolf's first permanent installation in Texas this summer. The Sante Fe-based boundary-pushing interactive art company's debut in North Texas will have 30 rooms to feature their unique visions. Here's a sneak peek of the work in progress for the 29,000 square-foot immersive experience, set to transport visitors to a fantastical realm at Grapevine Mills.
Meow Wolf says its Grapevine exhibition is "a journey through a technicolor wonderland that blends storytelling, technology, and immersive art." Different dimensions of perspective and creativity will be on display through more than 30 rooms of "multidimensional art and compelling narrative."
The UNT Health Science Center at Fort Worth has received a $2 million grant from Tarrant County to help emerging tech startups successfully apply for federal Small Business Innovation Research funding. "It’s about creating entrepreneurial excellence in Tarrant County,” says Tarrant County Commissioner Roy Brooks. “This puts us at the forefront of innovation in bringing tech industries to Tarrant County as an economic development tool.”