Getrak receives funding and aims to expand telemetry in the logistics and transportation sector

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05/04/2018

Source: Logweb

Getrak, a company specialized in software development and solutions for IoT and vehicle telemetry, received investment from the venture capital fund managed by Cedro Capital and is ready to take another step in its expansion plan in the transportation and logistics sector. The company operates in the entire national territory, is present in 250 cities, and has tracked vehicles in more than 3 thousand municipalities.

Currently, the company has 390 thousand items linked to its platform, among vehicles, trucks, and motorcycles. The goal is to invest in accelerating its roadmap and evolving its BI and Analytics platform, as well as applications, tracking devices, and connectivity solutions including networking for IoT. The investments will also be directed to the expansion of the telemetry market in order to generate practical and efficient results for security operations, fleet management, and carriers served by Getrak’s customers.

The contribution is the result of the solid results that the company has been presenting since 2014. In the last four years its turnover has increased by 40% a year and in the same period its customer portfolio has increased by 260%.

According to Alessandro Machado, partner at Cedro Capital, Getrak has presented all the ingredients to be a protagonist in the exploration of new IoT-based services. “For three years the company has been carrying out planned actions, including hiring a consulting firm focused on strategic management and governance. These factors contributed to the analysis and approval of the investment that will allow the company to expand its already relevant position in the tracking market and develop projects focused on connectivity and management of different types of connected devices”, he says.

Owner of one of the leading platforms in the market, Getrak, which operates in the B2B IoT market, wants to expand its customer portfolio, which currently includes 600 small, medium, and large security, tracking, and telemetry companies, such as Continental, TicketLog, and Grupo Zatix. The expansion will be accompanied by a series of product launches and the development of technologies for these operations. All the innovations that will be made available are intended to bring differentials and market advantages for customers who provide tracking and telemetry services for more than 50,000 companies in more than 3,200 cities throughout Brazil.

For Frederico Menegatti, Getrak’s CEO, the market is going through a moment of change and disruption, with shorter technology cycles. “We have moved from the paradigm of observing vehicles on the map to massive BI technologies that analyze in real time the driving profile, manage preventive maintenance, control driver management and generate practical tools for fleet cost reduction. Facing this scenario, Getrak is focused on bringing cutting-edge and efficient solutions to better manage fleets and increase the rate of stolen vehicle recovery always aiming at the best possible cost for our customers,” he says.