Geoforce, a Dallas, Texas-based provider of global traceability and Track and Trace solutions for field equipment and vehicles, received a majority investment from LLR Partners.
The amount of the deal was not disclosed.
The company intends to use the capital for the continued innovation of its field asset tracking solution for Oil & Gas and other industries.
Led by James MacLean III, CEO, Geoforce offers a cloud-based software platform that delivers a unified view of multiple asset types, including non-powered equipment, powered equipment and vehicles, through ruggedized satellite and cellular-based GPS devices.
Its solutions are used by more than 900 customers tracking more than 140,000 assets in 70+ countries in over 70 countries manage dispersed field assets in often chaotic operating environments while reducing maintenance costs, increasing transparency between parties, and improving safety and compliance. Geoforce’s solutions are used in gas and oil and many other industries with intensive field operations and remote equipment, including agriculture, construction, mining, transportation, logistics and rail.
The company has R&D offices in Bozeman, Montana, sales and support offices in Houston, Texas, Denver, Colorado, Arroyo Grande, California, Macae, Brazil, and Melbourne, Australia, and sales and service professionals in West Texas and South Louisiana.