EAST HARTFORD, Conn.--(BUSINESS WIRE)--Advantage Capital, a leading impact investment firm, announced today a $3.1 million investment in Servicengine, a Danbury, Conn.-based SaaS company specializing in relocation management software. The funding will enable Servicengine to double its team and enhance its innovative platform, which supports the complex needs of relocation management companies (RMCs) and corporations navigating global workforce challenges.
“As relocation management companies face increased pressure to streamline operations and expand in-house capabilities, Servicengine’s platform provides a powerful tool to manage both complex and lower cost moves efficiently,” said Thomas Franssen, Jr. President, Servicengine. “This funding comes at a critical time in our growth trajectory, helping to accelerate our expansion and support job creation here in Danbury.”
Servicengine offers solutions for relocation logistics, including expense management, tax compliance, vendor coordination, and immigration services. With nearly 2 million employee relocations annually, the company is positioned for significant growth.
“We are pleased to be part of Servicengine’s growth story,” said Tim Perusek, Principal, Advantage Capital. “The company is driving innovation in the RMC market, opening opportunities for corporations to directly manage lower cost moves, enhancing efficiency and affordability. We’re proud to support their job creation and economic activity in Danbury.”
The investment from Advantage Capital was made in connection with the InvestCT program, which opens funding opportunities to entrepreneurs looking to grow their businesses in the state. According to the Connecticut Department of Economic Community Development, the program created more than 1,500 jobs between 2016 and 2023. It has been instrumental in funneling financing to small businesses and targeted municipalities that have historically lacked investment, as well as pre-seed and early-stage businesses looking to get their start in the state.
About Advantage Capital
Advantage Capital is a leading impact investment firm with an emphasis on driving capital to underserved areas. The firm provides flexible financing to growth-ready entrepreneurs and industries located in communities that often lack access to conventional sources of capital. Since 1992, the firm has invested more than $4 billion in more than 900 companies to support more than 70,000 quality jobs. The firm also invests with intention in affordable housing developments and renewable energy solutions to grow economies and communities. Learn more at Advantagecap.com.
About Servicengine
Servicengine is a Danbury, CT-based software-as-a-service company providing comprehensive software solutions for relocation management companies. Founded in 1998, the company is dedicated to helping its clients manage employee relocation and remote work logistics efficiently and effectively.
Advantage Capital is an Investment Adviser registered with the U.S. Securities & Exchange Commission. Such registration, however, does not imply a certain level of skill or training. This release has been prepared for informational purposes and to announce a prior event, and nothing herein should be construed as an offer of investment advisory services or as an offer to sell or a solicitation of an offer to purchase any securities or investment product. All offers of investment interests in any fund or investment vehicle managed directly or indirectly by Advantage Capital are and will be made only to qualified prospective investors pursuant to separate and definitive offering and subscription documents in accordance with applicable federal and state securities laws. Advantage Capital is an equal opportunity provider.
