Montreal-based startup TrackTik, an integrated guard management solution provider, has raised $1 million in seed funding from Klass Capital.
Also participating in the round was Jordan Banks, managing director of Facebook Canada; Craig Campbell, former CEO of Total Security Management (sold to Garda in 2013); and Adrian Schauer, serial entrepreneur, and former CEO of Vortex Connect (sold in 2012). The Fund “plans to make a more substantial investment in TrackTik in the future as the Company continues to scale its sales and build its team.”
“We are excited to make our first investment in Quebec,” said Daniel Klass, president of Klass Capital. “This is an appealing opportunity to partner with an exceptional entrepreneur, who has very quickly gained traction in the security industry.”
TrackTik is an integrated guard management system that provides compliance, tracking, and scheduling solutions for the security guard industry. The product is multi-featured, easily customizable, and is delivered through a SaaS and mobile platform.
Guards can do patrol tours, report incidents and activities in real-time. Managers and clients can monitor, review, respond instantly from their browsers or smart-phone. Tracktik “improves efficiency, accountability and profitability.”
Simon Ferragne, an “experienced technologist” with deep security industry expertise founded the Quebec-based company in late 2010. The company claimed in a release that the product is “extremely advanced,” which has helped attract major security customers including Garda, HSS, and Commissionaires.
“This investment will allow us to fully execute our growth strategy and thereby position TrackTik as the industry leader,” said Ferragne. “Klass’ culture is a great fit with our strategy, and its extensive SaaS expertise and mentorship are definitely key assets.
It’s about surrounding yourself with successful and experienced partners.”
Klass is a growth equity firm established to provide expansion stage capital to high growth enterprise software businesses. The Fund is backed by a $50 billion dollar pension plan and a number of institutional investors and high net worth entrepreneurs.