Mainsail invests $40m in SaaS maintenance service provider Fexa

• Fexa was founded in 2011
• Mainsail Partners invests in bootstrapped software companies
• The firm has raised over $2.2 billion and invested in more than 60 bootstrapped companies since 2003

Mainsail Partners invested $40 million in Fexa, a provider of solutions for facility maintenance departments and service providers. No financial terms were disclosed.

Fexa plans to use the capital to accelerate the development of product features, enhance integration capabilities, and broaden industry partnerships.

“This is an exciting inflection point for our company,” said Marc Balzamo, founder and CEO of Fexa, in a statement. “Having built a solution that we believe is the most configurable, complete, and modern solution in the market for facility management teams and maintenance service providers, we felt now was the right time to bring on a partner. This partnership will allow us to deliver even more value to our customers. We are excited to benefit from Mainsail’s hands-on support and experience in scaling software companies in the next phase of our journey.”

Founded in 2011, Fexa was built to meet the needs of facilities maintenance professionals and maintenance service providers by automating workflows for preventative and reactive maintenance; managing third party vendors; invoicing for completed projects; providing insightful reporting and analytics; and ensuring an audit trail for managing compliance of all vendor activities.

Mainsail Partners invests in bootstrapped software companies. The firm has raised over $2.2 billion and invested in more than 60 bootstrapped companies since 2003.