SAN DIEGO, Sept. 3, 2019 /PRNewswire/ — K1 Investment Management (“K1”), a leading investment firm focusing on high-growth enterprise software companies, today announced its investment in the combined companies of Trackforce and Valiant, establishing the world’s only end-to-end workforce management solution for corporate security teams and security guard companies.
K1’s investment provides the combined company, which will be named Trackforce Valiant, with the financial and operational resources to rapidly expand its innovative product suite, global client relationships and industry market share. All products and services will continue uninterrupted for all customers.
The combined business serves more than 1,800 corporate security and security guard customers with a comprehensive platform of solutions, including human resource management, time and labor management, guard touring, mobile command operations, billing, payroll, financial reporting and business intelligence. Its software products provide an integrated platform that creates an end-to-end security workforce management solution, helping to provide back-office intelligence with front-line vigilance for the security industry.
“The complementary product capabilities and growth profiles of Trackforce and Valiant create an ideal platform for further expansion in serving the global security market with comprehensive and leading software solutions,” said George Wright, CEO of Trackforce Valiant. “K1’s experience with building category leaders in enterprise software made their team the right choice for partnership and for helping us to realize our growth plans.”
Trackforce Valiant will remain focused on delivering current customer commitments and new product features while devoting resources to the next generation of solutions. All customers and product lines will continue to be supported in order to provide continuity to current clients in addition to being offered increased benefits over time. These customers include some of the largest private security firms, major airports, universities and corporations around the world including G4S, Whelan Security, SecurAmerica, McKesson Corporation, and Inter-Con Security Systems among many others.
The new platform is majority backed by K1, a leading investment firm focusing on high-growth enterprise software companies. K1 has committed over $150 million behind the combination, with additional capital available for further strategic acquisitions. Additional terms were not disclosed.
“K1 is excited about the opportunity to partner with the Trackforce Valiant team to help create the global category leader in security workforce management software,” said Mike Velcich, principal at K1. “The combination of Trackforce and Valiant offered a compelling opportunity to consolidate separate point solutions in the security market into an integrated end-to-end solution for customers and we look forward to being a part of the platform’s continued growth.”
Trackforce is a leader in security workforce management solutions. More than 200,000 professionals at over 30,000 customer sites in 50 countries use Trackforce every day to ensure reliable security and improve operational efficiency. For nearly 20 years, Trackforce has provided fully integrated security solutions to its partners and customers. Thanks to its security expertise and state-of-the-art information systems technology, Trackforce proudly offers the most effective solutions available on the market. Clients include the world’s leading security guard service providers, as well as major airports, universities, and corporations across the globe. Additional information is available at www.trackforce.com.
Founded in 1993 and based in Woodbury, NY, Valiant Solutions provides cloud-based payroll and human capital management (HCM) solutions for the Security and Hospitality industries. With a focus on the hourly workforce, Valiant offers products and services for applicant tracking, human resources, time and labor management, payroll management and billing management. Valiant began with a focus on intelligent, rules-based scheduling for security guards, and expanded their offering to include payroll and HR solutions to round out a comprehensive workforce management platform. With both Web and Mobile capabilities, Valiant Solutions helps companies integrate time and labor with payroll and billing, shortening the time to process payments and bills, while mitigating risk of compliance errors.
K1 builds category leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses achieve successful outcomes. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 85 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies. Since inception of the firm, K1 has partnered with over 110 enterprise software companies including industry leaders such as Apttus, Buildium, Certify, Checkmarx, ChiroTouch, Chrome River, Clarizen, ControlUp, Granicus, IronScales, Jobvite, Onit, Rave Mobile Safety, RFPIO, Smarsh and WorkForce Software. For more information about K1, please visit: http://www.k1capital.com or http://www.linkedin.com/company/k1im.
SOURCE K1 Investment Management
Full press release available here.