Minnesota startup IndusTrack has roots dating back to 2002, but it wasn’t until almost a decade later that things really started coming together.
“It took us years to get the development done and launched,” says founder and CEO Sarfaraz (Raz) Bajwa. “We were totally bootstrapped — it was a long and lean process to get where we are.”
Brought to market 2011, the patented hardware + software systems provides GPS tracking and management tools for fleets of 10 – 500 in the landscaping, home delivery, construction and HVAC industries. Specifically, the technology provides five core metrics on: maintenance, driving habits, routing, mileage, and labor costs.
With “Thousands of installs for over 150 customers” IndusTrack realized 300% revenue growth from 2012 to 2013, Bajwa claims. And he predicts that figure to be at 400% YoY in 2014.
“Things have picked up dramatically since we signed the partnership” he says, describing an April deal in which Verizon began reselling IndusTrack’s solution across five midwest states with the potential for more in the future.
Expanding on those relationships has also opened doors for more. What began as fleet management software is now more of a comprehensive mobile workforce management suite with messaging, scheduling and work order integration.
“We see over 70m fleet vehicles on the road and over a billion dollar market. As our regional sales channels grow, we plan to have nationwide presence next year.”