Pritzker Group Venture Capital, formerly New World Ventures, announced it has invested $45 million in Chicago-based SMS Assist, the advanced mobile and cloud-based facilities maintenance technology company. This brings the Pritzkers’ total investment to $62 million.
 
“SMS Assist has disruptive technology that is significantly reducing facilities maintenance expenses for some of the nation’s largest companies," said J.B. Pritzker, managing partner. "Validating the company’s growth trajectory is a series of high-value contracts, including one of the largest in retail facilities maintenance history. We are helping to build a great company that is fundamentally changing its industry.”

SMS Assist recently announced it won a major multi-year contract expansion with a major retailer, consolidating services at nearly 8,000 U.S. locations. The company currently provides services to 50,000 locations for national companies including Office Depot, Best Buy, CBRE, Diamond Resorts International and Jones Lang LaSalle.
 
SMS Assist is now Pritzker Group’s largest venture investment, surpassing its $50 million investment in IO, the leading provider of next-generation modular data center technology and services. It is the most recent late stage investment for Pritzker Group Venture Capital, which recently announced the expansion of its investments to include large, later-stage funding of companies with disruptive technology that are nearing IPO or revolutionizing industries.
 
“The backing of Pritzker Group means SMS Assist will have the growth capital it needs to continue providing the highest quality service to our customers, no matter how much business we add. They are committed to helping us make SMS Assist the world leader in its industry, and we are extremely proud that they have chosen to partner with us,” said Michael Rothman, SMS Assist chief executive officer.