Montréal-based SaaS startup TrackTik has been acquired by California company Trackforce Valiant.
Both companies offer solutions for security professionals, and they expect that their consolidation will combine the best practices of each of their security workforce management platforms.
TrackTik will continue to operate in Québec as it works with Trackforce on developing security solutions, such as time and labour management, guard touring, incident management, dispatch and mobile control, as well as billing and payroll.
Founded in 2013, TrackTik’s suite of solutions is designed to help security service companies and corporate security departments follow the progression of guards, reduce manual tasks, and lower costs.
In addition to its head office in Montréal, TrackTik is located in the United Kingdom and Europe. The company claims that its platform is used by over 210,000 facilities across more than 35 countries.
Prior to becoming a Trackforce subsidiary, TrackTik had raised around $54.5 million to date from its investor base that includes the likes of Georgian Partners, Inovia Capital, Klass Capital, and Caisse de dépôt et placement du Québec.
That total amount includes a $1 million seed round a year after TrackTik’s inception, a $1.5 million investment round in 2015, a $7 million raise in 2017, and $45 million in 2019.
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Trackforce CEO Trevor Campion will oversee the combined entity as CEO, and TrackTik CEO Simon Ferragne will assume the role of CTO. According to TrackTik, Ferragne and TrackTik investors have reinvested a portion of their proceeds in the newly consolidated organization to support its growth. The company did not disclose the amount of their investment or which investors took part.
Based in San Diego and founded in 2000, Trackforce claims that its security workforce management solutions are used by more than 300,000 professionals at over 30,000 sites across 45 countries. Its clients include security guard service providers, major airports, universities, and corporations.
As a result of its acquisition, TrackTik is set to maintain its customers and partners, which includes Moonlight Security, GSG Protective Services, Superior Protection Services, RAMCO Protective, Signal 88 Security, Securitas, and Paladin Security.
Featured image from TrackTik’s website.