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    Gearworks gets $11 million in funding

    May 7, 2002
    Gearworks announced today that it has received $11 million in Series B financing from Ignite Group, BlueStream Ventures and DRW Venture Partners. The company said the new investment builds upon momentum generated by Gearworks' flagship product, etrace, which automates and manages business activities carried out by workers in the field. The product consists of a wireless application that runs on off-the-shelf
    Gearworks announced today that it has received $11 million in Series B financing from Ignite Group, BlueStream Ventures and DRW Venture Partners.

    The company said the new investment builds upon momentum generated by Gearworks' flagship product, etrace, which automates and manages business activities carried out by workers in the field. The product consists of a wireless application that runs on off-the-shelf handheld devices, a Web-based system for dispatchers and a real-time connection back to enterprise systems.

    The investment will support expanded sales and marketing efforts and meet increasing demand for Gearworks' point of delivery software in new markets.

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    Tim Parry

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