Durham startup ServiceTrade buys CO company

DURHAM – Durham-headquartered ServiceTrade, a software-as-a-service solutions provider for service technicians and companies, has bought Asurio, according to a company blog post published earlier this month.

According to the company’s CEO, Billy Marshall, ServiceTrade bought the Colorado-based company in order to acquire “the technology and expertise behind the BirdDog Platform and the customers who trust it to speed the inspection process and reduce risk through enhanced compliance.”

The more than ten-year-old startup raised $85 million in funding last year, including participation from local investor Bull City Venture Partners.

In the blog post, Marshall wrote that the combined businesses will result in “unifying the inspection process with other critical business automation in ServiceTrade,” meaning that fire and life safety contractors can access a “connected operations hub.”

Durham’s ServiceTrade lands $85M, to expand offerings to contractors

ServiceTrade continues to grow

While nine months ago, the company supported 800 specialty contractors, the company now supports more than 1,000, Marshall’s blog post noted. And the company has grown to more than 190 employees, including those who will come over to the company with the acquisition.

Specifically, Marshall’s note states that ServiceTrade will acquire “specific assets of the Asurio business including certain operating assets, intellectual property, naming rights, trademarks, and customer contracts.”

Marshall also wrote that the combination of companies and platforms “will unlock even greater efficiencies” for customers.

The company will not sell any new subscriptions to the Asurio software products, though it will maintain existing agreements for existing customers, Marshall’s note said. And, a “migration path to ServiceTrade” will be offered to those existing customers, he noted.

Bull City Venture Partners had participated in a prior fundraising round, as well.