Bracknell: Telogis' $93m funding to fuel investment in UK market
Telogis in the UK is set to significantly expand its operations in the wake of $93 million in institutional capital secured earlier this month by its US-headquartered parent.
Telogis intends to utilise the investment to further capitalise on the large and rapidly growing multi-billion dollar market for location-based products and services designed specifically for enterprises and organisations with substantial numbers of mobile workers and vehicles.
In the UK this will translate into investment in the current product line to target new markets, and a significant increase in staff numbers and office space to provide local support for its growing customer base.
Telogis provides a software-as-a-service (SaaS)-based platform for companies that require dynamic routing, real-time work order management, commercial navigation, telematics and mobile integration services for their workforces in the field.
Sergio Barata, general manager for EMEA, said: “This injection of capital comes at the ideal time for Telogis in the UK market. Having opened for business here more than five years ago, we have built a core of loyal customers using our location-based technology platform. We are now poised to rapidly expand our reach into several new markets by accelerating our engineering investment and providing best-of-breed solutions to segments including utilities, oil and gas and food & drink/supply chain and more.
“The new funding further cements Telogis’ position as a permanent part of the UK technology landscape – a dynamic place to work and one that enables us to attract and retain the very best talent. New opportunities will become available within our Bracknell office as Telogis continues to gain market share within the UK and around the world.”
Since its founding in 2001, Telogis has been privately financed by its founders, management and other individuals. The new investment represents the company’s first outside raise of institutional capital.
In 2011 Telogis became the exclusive technology provider for Ford Motor Company. Telogis also partnered with Volvo Trucks earlier this year to co-develop new telematics and navigation services for Volvo customers.
In December 2012 Telogis moved to its new offices in Bracknell to accommodate its continued expansion.
