Aliso Viejo Software Maker Raises $93MWednesday, October 2, 2013
Aliso Viejo-based Telogis Inc. got $93 million in a funding round led by Menlo Park-based investment firm Kleiner Perkins Caufield & Byers.
Three other investors participated in the Series A round, which was the first infusion of institutional capital in the company’s 12-year history.
Telogis makes navigation software that uses global positioning systems to help companies with large fleets of trucks develop better routes and track shipments more efficiently. It has 400 employees total, with about 60 in Orange County. It was named one of the fastest-growing private companies based in Orange County by the Business Journal last year, when it more than doubled its revenue to $57 million. It expects to reach $100 million this year.
Telogis Chief Financial Officer Kyle Messman said the money will be go toward additional hires in sales and marketing, product development and building strategic plans with automakers.
Telogis earlier this year announced a partnership with the North America unit of Volvo Truck Corp. It also has been working with Ford Motor Co. since last year to embed its software in the Detroit automaker’s pick-up trucks and vans.