TracPlus has successfully closed a significant funding round with New Zealand’s most experienced technology investment firm, Movac, investing $5m.
TracPlus offers real-time tracking, communication and integrated solutions for those in the critical services sectors, including First Responders, Firefighting, Utilities, Military and Aviation sectors. Founded in 2007 and based in Dunedin, TracPlus’ global client base includes the likes of CalFire, San Diego Gas & Electric, National Aerial Firefighting Centre (NAFC Australia), Ministry of Agriculture (CONAF, Chile) Erikson, and Christchurch Helicopters.
Movac Partner Mark Vivian comments “We’re delighted to be investing in a kiwi tech company that helps their clients take care of their people and assets. Earlier in the year, I was fortunate to spend some time in the US with some TracPlus customers, and it was compelling to see their faith and reliance on the TracPlus and its products in their daily activities. Over the years TracPlus has built a team, products and client base that they can be very proud of. It’s also worth acknowledging the support and commitment of the company’s early-stage investors to get the business this far, and I’m excited as to what the future looks like for TracPlus.”
TracPlus CEO Trevor McIntyre comments “TracPlus has built a world-class reputation, and we’re really proud of the exceptional customer base that we’ve built over the past decade. We’re very focussed on what we want to do with our business and sought an investor who understood that. We had a number of funding options, and we chose Movac due to their investment style and ‘hands-on’ experience in growing successful tech companies. It was also really important to us that there was a strong personality fit between the two teams. We have big future plans, and we’re thrilled to have Movac’s investment and support for the next stage of our journey.”
“We are also very excited for Mr Vivian to join the TracPlus board.”
The new investment round will enable TracPlus to grow technical and sales capability and further capitalize on its position as the disruptive global leader, providing the most cost-effective, comprehensive, flexible and agile platform solutions on the market today.
As part of the transaction, TracPlus will acquire Cambridge-based technology business v2track Limited. v2track Limited provides TracPlus not only with tracking devices and a rich pipeline, it additionally furthers the footprint globally with a strong distributor network with market presence in Africa and Europe.
TracPlus CEO Trevor McIntyre comments, “The acquisition of v2track Limited, is aligned with our goal to be the market leader in tracking and communication globally.”
v2 Track Founders, Kylan and Bevan Diprose are also pleased to be joining forces with TracPlus.
“The v2track team is excited to be starting this new chapter with TracPlus. Over the years we have seen our mutual vision for aviation safety, communication, and technology become more and more aligned.
We believe that by joining forces will we will have more impact together as we bring together our complementary strengths," says Kylan Diprose.
“We are looking forward to bringing what people love about v2track to a wider audience. Both new and existing customers will benefit from the greater range of products, services and resources available through the combined entity,” says Bevan Diprose.
Phil McCaw, Movac Managing Partner commented, “TracPlus is yet another example of a kiwi tech company who’s built a strong international worldwide, and wants to accelerate its growth. The years ahead for TracPlus are exciting, and we look forward to playing our part. At Movac, we continue to work with Kiwi entrepreneurs who have the ability and aspiration to build great technology companies, using our capital, expertise and networks. As I’ve said publicly in recent weeks, there’s plenty of uncertainty in markets currently, but we are a long term investor and continue to work with Kiwi companies who are looking for an investment partner with strategic experience, operational ability, meaningful capital and access to global networks.”
About Movac:
Movac is New Zealand’s largest and most experienced technology investment fund manager. Movac provides growth funding across multiple investment rounds and supports companies with mentoring, advice, and access to international networks.
Founded in 1998, Movac has invested in more than 25 companies, and over that time, significant returns have been generated for investors with notable results achieved with Trade Me, eBus, GreenButton, and Givealittle. Current portfolio companies include Aroa Biosurgery, Author-it, Vend, Parking Sense, Unleashed Software, Timely, Coretex, Mobi2Go and Revolution Fibres.
About TracPlus:
TracPlus are at the forefront of platform product development with a whole-of-market offering, and are in turn, swiftly becoming the preferred partner in the tracking and communications industry.
Established in Dunedin in 2007, TracPlus offers real-time tracking, communication and integrated solutions for those in the critical services sectors, including First Responders, Firefighting, Utilities, Military and Aviation sectors. Over the last 13 years, TracPlus has grown to become a global business, with offices in New Zealand, Australia, the United States and Latin America.
About V2 Limited:
v2track Limited is a New Zealand based company working with clients around the globe to effectively track and communicate with aircraft, land vehicles/equipment and marine vessels.
Established in Cambridge in 2007, v2track Limited has a history of providing not only groundbreaking and cost-effective cellular/satellite solutions to the market. They also provide customised and bespoke solutions for their clients. v2track has established a global presence with clients in the US, Canada, South America, Asia Pacific, Australia and New Zealand, Europe, Africa and the Middle East.
