The investment creates the world’s only end-to-end workforce management solution for corporate security teams and security guard companies through the combination of Trackforce and Valiant
K1 Investment Management (“K1”), a leading investment firm focusing on high-growth enterprise software companies, 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.
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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.”
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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.”
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