Over the past few years, advancement in mobile technology has also led to the increased adoption of location-based services. Mobile applications make use of the device’s ability to transmit and store geographical location of the user to provide access to more value added services. According to a Juniper Research report, mobile location-based services market is projected to grow to $12.7 billion by 2014.
California-based Telogis is an old player within this market, which provides services to help organizations manage their mobile assets more effectively. Telogis was founded in 2001 and managed to survive the dot-com bust. The company’s location-based platform offers several useful features for the enterprise customer.
Using Telogis Fleet, organizations have access to real-time information on location and status for mobile assets on a single dashboard. Their SaaS offering of Telogis Progression is an end-to-end work order management solution that handles job creation, routing, mobile asset management and monitoring, and real-time communication. Telogis also offers extensive communication capabilities through the Telogis Mobile, which manages communication within the organization through two-way messaging, forms, work orders, and commercial navigation. As part of its logistics management solution, Telogis Routes offers the ability to plan optimal routes and instant reroutes. Overall, Telogis is able to offer powerful mobile and web-based location based services to help organizations manage daily logistics in a cost effective manner.
Telogis has an impressive customer base of more than 4,000 customers. It helps track more than 350,000 vehicles worldwide. Not only are its tools used for logistics services, but by accessing data from these tools, organizations can also monitor how the vehicles are being used, identify driver behavior by collecting data like speed limit observations to help manage insurance expenses.
Over the past few years, Telogis has grown through acquisitions. Last year, it acquired Navtrak, a leading provider of mobile resource and fleet management solutions. Navtrak offered its geo location services to small and medium sized businesses. The acquisition has helped Telogis expand its presence in the SMB market.
Telogis also added Maptuit to its portfolio. Maptuit was a leading provider of connected navigation for commercial fleets. Its commercial navigation technology capabilities have helped Telogis enhance their SaaS solutions for heavy industries such as mining and oil exploration by adding the capability to provide improved location intelligence solutions on a single platform. Maptuit’s capabilities were particularly useful in regions where map data coverage was limited as it relies on known routes.
The increased adoption of GPS-based services has helped Telogis record rapid growth. Though it does not publish financials, reports suggest that Telogis had generated revenues of $42 million in 2011. Revenues have grown since and the company is now expected to generate more than $90 million in revenues this year. The company is largely bootstrapped and is profitable. It raised $5.5 million by 2010 and only recently approached the market for additional funding. Earlier this month, Telogis announced receipt of $93 million in funding in a round led by Kleiner Perkins Caufield & Byers. The valuation for this round is not known. Telogis is expected to go public by the end of the next year.