Business & Tech
Advantage Capital Announces $3.1M Investment In Danbury Company
Advantage Capital invested in Servicengine, a Danbury-based SaaS company specializing in relocation management software.
**News Release Submitted by Advantage Capital**
Dec. 11, 2024
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.
