Software provider Telogis is set to expand its UK operations in the wake of $93 million in institutional capital secured earlier in October by its US-headquartered parent.
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.
It plans to use the new capital to invest in the current product line to target new markets, as well as increasing staff numbers and office space to provide local support for its 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 and drink/supply chain and more.”
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.
The funding round was led by Silicon Valley-based firm Kleiner Perkins Caufield and Byers.