Geoforce

Global traceability solutions for field equipment

Plano, Texas, United States

About Geoforce

Geoforce provides global traceability solutions for field equipment through a cloud-based software platform that integrates with GPS tracking sensors. This system allows businesses to track and monitor their equipment in real-time, eliminating uncertainty in field operations. Geoforce caters to various industries, including oil and gas, rail, government, defense, construction, agriculture, transportation, logistics, and mining, focusing on clients who need reliable tracking in tough environments. Their GT1 GPS tracking device is built to endure extreme conditions, making it suitable for harsh operational settings. The company generates revenue by selling both hardware and software, charging subscription fees for access to their platform. Geoforce's main goal is to enhance operational efficiency and reduce downtime for its clients by providing durable tracking solutions that minimize technician visits and prevent equipment failures.

Plano, TexasHeadquarters
2007Year Founded
$2.9MTotal Funding
EARLY_VCCompany Stage
Automotive & Transportation, Industrial & Manufacturing, Government & Public SectorIndustries
51-200Employees

Benefits

Professional Development Budget

Risks

Increased competition from Iridium Communications could threaten Geoforce's market share.
Integration challenges from Temeda acquisition may disrupt operations and customer service.
New solar-powered trackers in Australia may face regulatory hurdles or market resistance.

Differentiation

Geoforce offers durable GPS tracking devices for harsh environments, ensuring reliable performance.
Their cloud-based platform provides real-time data, enhancing operational efficiency and asset management.
Geoforce's solar-powered trackers offer long battery life, reducing maintenance costs for remote clients.

Upsides

Acquisition of Temeda enhances Geoforce's telematics solutions, expanding market reach in asset management.
Partnership with Sewell Fleet Management opens new avenues in the fleet management industry.
Hiring Kyle Bowker as CRO could drive strategic sales initiatives and revenue growth.

Funding

Total raised$2.92 M
Latest valuation$15.00 M
StageEARLY_VC
EARLY VC
2/28/2019
$3
$15.00 M