San Diego company Trackforce, which provides software-as-a-service operation management tools for security services, announced this week the closing of a $7.4 million investment from Kansas-based growth equity firm Five Elms Capital.
In a statement, Trackforce CEO Guirchaume Abitbol said the capital infusion will allow the company to expand its cloud-based software platform, accelerate global expansion and expedite new feature development.
Trackforce’s GuardTek platform has more than 80,000 users at about 8,000 sites in 28 countries, the company said.
“Trackforce has built a best-in-class platform that changes the way security professionals manage their operations,” said Joe Onofrio, managing director at Five Elms Capital, which invests in fast-growing companies outside of Silicon Valley. “The team’s innovative technology, industry knowledge, and best-in-class customer service has driven strong growth over the last 10 years; we look forward to working with the team to expand on the success achieved to date.”