The two companies have come together to better monitor security operations.
Montreal-based SaaS startup TrackTik has been acquired by California-based Trackforce Valiant.
Both companies offer solutions for security professionals, and they expect their consolidation to combine best practices from each of their security workforce management platforms.
TrackTik will continue to operate in Quebec working with Trackforce on the development of security solutions, such as time and labor management, guard tours, incident management, dispatch and mobile control , as well as invoicing and payroll.
Founded in 2013, the TrackTik suite of solutions is designed to help security service companies and enterprise security services track guard progress, reduce manual tasks and reduce costs.
In addition to its head office in Montreal, TrackTik has operations in the United Kingdom and Europe. The company says its platform is used by more than 210,000 installations in more than 35 countries.
Prior to becoming a subsidiary of Trackforce, TrackTik had raised approximately $54.5 million to date from its investor base, including Georgian Partners, Inovia Capital, Klass Capital, and Caisse de depot et placement du Quebec.
This total amount includes a $1 million seed round one year after TrackTik’s inception, a $1.5 million investment round in 2015, a $7 million raise in 2017, and $45 million in 2019.
RELATED: Security Workforce Leader TrackTik Raises $7M
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, investors from Ferragne and TrackTik reinvested a portion of their proceeds into the newly consolidated organization to support its growth. The company did not disclose the amount of its investment or which investors participated.
Based in San Diego and founded in 2000, Trackforce says its security workforce management solutions are used by more than 300,000 professionals at more than 30,000 locations in 45 countries. Its customers include security service providers, major airports, universities and corporations.
Following its acquisition, TrackTik is set to retain its customers and partners, including Moonlight Security, GSG Protective Services, Superior Protection Services, RAMCO Protective, Signal 88 Security, Securitas and Paladin Security.
TrackTik Featured Image website.