Ray Grainger

Ray Grainger

Business software maker Mavenlink Inc. raised $48 million in a Series E financing round, led by current investors Newport Beach-based private equity firm Carrick Capital Partners and Goldman Sachs Growth Equity.

Mavenlink makes cloud-based software to help service companies manage projects.

Chief Executive Ray Grainger in September told the Business Journal the company plans to nearly double employment within 18 months to more than 320 workers at its Irvine headquarters near the Spectrum.

It has a five-year lease at 6501 Irvine Center Dr. that nearly doubled its local footprint to 64,000 square feet.

Mavenlink has raised $112 million since its 2008 inception.