Kleiner, Perkins, Caufield & Byers (KPCB) led a $93 million institutional capital financing investment for Telogis, according to an announcement Wednesday morning by Telogis. The company noted that it intends to utilize the investment to further capitalize on the “large and rapidly growing multi-billion dollar market for location-based products and services designed specifically for enterprises and organizations with substantial numbers of mobile workers and vehicles.”
KPCB was joined in the round by several other growth equity and crossover institutional funds. KPCB partner Ryan Popple has joined Telogis’ board of directors.
“Telogis is the software leader for enterprise management of mobile resources,” observed Popple. “Telogis improves productivity and efficiency, helping some of the world’s largest enterprises solve demanding problems in routing, navigation and business management. We’ve followed the company for several years, and have been continuously impressed with their ability to innovate and lead the market. I am looking forward to being a part of Telogis’ board and working closely with the leadership team in support of the company and technology.”
“KPCB is one of the preeminent names in technology investing, and we are proud to become part of a roster of companies that includes some of the world’s most well-known SaaS, enterprise and green companies,” said David Cozzens, CEO, Telogis. “In partnership with KPCB, Telogis will continue to focus on innovation and providing technologies and solutions that enable enterprises and organizations to optimize the management of their mobile assets including better data collection and analysis.”
Telogis provides a software-as-a-service (SaaS)-based platform for companies that require dynamic routing, real-time work order management, commercial navigation, telematics and mobile integration services for their workforces in the field.
The company was named Number One in innovation by ABI Research among 19 industry competitors, and was also recognized with a Stevie Award for customer service and is consistently named as a ‘best place to work’ by regional business publications.
Since its founding in 2001, Telogis has been privately financed by its founders, management and other individuals, and today’s round represents its first outside raise of institutional capital. Transitioning its investor base to include a diverse set of growth equity and crossover institutional investors gives Telogis significant additional resources to further its leadership in innovation and capitalize on the market.
Morgan Stanley & Co. LLC acted as sole placement agent on the transaction, and Paul Hastings LLP served as legal advisor to Telogis.