HOUSTON, Texas — Trackwell ADS, the U.S. subsidiary of Iceland-based Trackwell, has announced an investment by Frumtak, an Icelandic investment fund comprised of the three major banks in Iceland and six major pension funds. This new funding will help allow Trackwell to dramatically increase its market development efforts in North America.
Trackwell ADS offers a Web-based service called TrackWell Mobile Resource Management (MRM) that includes a wide range of business processes that allow companies to better manage their mobile vehicle and workforce resources (click here for an overview of this system).
Trackwell ADS’ customers have achieved exceptional results using the TrackWell MRM system. Approximately 300 companies in many business sectors are using the service to manage over 2,000 vehicles and about 30,000 employees. To date, TrackWell products are utilized in 19 countries on five continents.
“We are pleased that the Frumtak investment will allow us to expand our sales and marketing efforts in the North American market”, said Tom Lemke, Executive Vice President of Trackwell ADS. “Trackwell ADS has already achieved success in many of the U.S. markets with its TrackWell Mobile Resource Management solutions and is excited to now be able to offer our products to many new markets.”
“Our customers are excited to have available a low cost, easy to use, scalable system that has functionality only seen before in much higher cost and more complex systems”, said Mr. Lemke.
TrackWell’s technologies and its growing international acceptance were further acknowledged by a recent visit from Ólafur Ragnar Grímsson, Iceland’s President. During the meeting with the president and TrackWell’s Board of Directors, Jón Ingi Björnsson TrackWell’s CEO provided and overview of the company, its current status and its future vision to President Grímsson. The president also received a firsthand look at Trackwell ADS’ system during his visit.
For more information visit www.trackwellads.com.
For an overview of the Trackwell ADS Fleet Management System click here.