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TrackTik Raises $45 Million to Manage Security Guard Services

Cybersecurity is a fast-growing industry in the tech world, but TrackTik is into a different kind of security.

The Montreal-based company has announced a new $45 million round of financing from Georgian Partners and Caisse de dépôt et placement du Québec. TrackTik is a security workforce management solution based in the cloud that allows companies to manage every aspect of their business from one centralized platform.

As one of Canada’s first major funding rounds of 2019, this new money will go towards trackTik’s ongoing development of their platform through added AI and machine learning integration. The company will look to double its staff of 120 over the next year as it plans to expand internationally. New TrackTik products will begin to roll out early this year, such as automated scheduling that uses machine learning to predict when a larger security force will be needed, reducing the need for human interaction and simplifying the overall process.

“This investment is in effect good news for the security workforce management industry as a whole as it is enabling us to reimagine every aspect of the industry, helping users of our technology to perform at unprecedented levels of intelligence and efficiency as they obtain their key business objectives,” said TrackTik Founder and CEO Simon Ferragne. “These unique tools will not only add value to our users but will in turn enable our clients to add value to their own customers.”

The TrackTik platform gives security companies the ability to manage real-time guard management and incident reporting, back office administrative functions, and business intelligence, all from one centralized platform. Beyond these already in-place features, TrackTik is hoping to use the new investment to focus on integrating more capabilities involving text-based messaging, chatbots, voice assistants, and digital security.

“This is an exciting time for the security guard workforce management space as the industry grows and evolves,” said Ferragne. “We at TrackTik are proud to support its advancement by providing the best products possible in the hopes of helping those in the industry propel their business forward. We want to thank both Georgian Partners and la Caisse for believing in our vision and mission, and we look forward to working together on achieving our goals.”

It was a good 2018 for TrackTik, as they came in at 11 on the Fast 50 with a four-year growth rate of 1,725 per cent and landed on LinkedIn’s top 25 Canadian startups.

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