The funding round, which was led by Silicon Valley-based firm Kleiner Perkins Caufield and Byers, will be used to further capitalise on the growing market for technology to track mobile workers and vehicles.
In the UK, where Telogis has its European HQ at Bracknell, the investment will be used to expand the current product line to target new markets, and significantly increase staff numbers and office space to provide local support for the firm’s growing customer base.
Sergio Barata, general manager of Telogis EMEA said: ‘This injection of capital comes at the ideal time for Telogis in the UK market. Having opened for business here in 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.’
Barata continued: ‘The new funding further cements Telogis’ position as a permanent part of the UK technology landscape, and dynamic place to work enabling 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.’
The new investment represents the company’s first outside raise of institutional capital in its 12-year history.
In 2011 Telogis became the exclusive technology provider for Ford Motor Company, powering its factory-installed Ford Crew Chief telematics solution for Ford commercial vehicles. Telogis also partnered with Volvo Trucks earlier this year to co-develop new telematics and navigation services for Volvo customers.
