Software maker Telogis expanding Austin presence after $93 million investment [Austin American-Statesman]
(Austin American-Statesman (TX) Via Acquire Media NewsEdge) Oct. 02--California software maker Telogis Inc. is expanding its Austin presence and adding up to 70 employees here after receiving a new $93 million investment.
Founded in 2001, the company develops software to track commercial vehicles, such as routing, work order management and navigation. It works with some of the largest vehicle makers in the world, and has deals with Ford Motor Co. and Volvo Trucks North America.
The funding, made by prominent Silicon Valley venture capital firm Kleiner Perkins, positions the company to hold an initial public offering next year, officials said.
In advance of that, Telogis will use the funding to add more workers, develop new software and strike more deals with vehicle manufacturers.
Telogis, which is based in Orange County, has 400 employees and operates a development office in New Zealand.
The company entered the Austin market in 2010 and currently has 68 employees at a 14,000-square-foot office in the Domain development in North Austin.
The Austin operation handles product development, sales and support, and the company will add jobs in all of those areas.
CEO David Cozzens said Telogis was initially drawn to Austin because of its central time zone, which was helpful for customer support. When the company later decided to build a development center in the U.S., Austin was a natural choice, he said.
"We're really impressed for multiple reasons, including the quality of life and the quality of people we get," said David Cozzens, Telogis CEO. "We have been happy and we want to keep investing there by building out all aspects of the business."
To accommodate the growth, the company will need to move to larger offices, and officials are looking in the Domain area as well as downtown, Cozzens said.
Telogis is profitable and expects to generate revenue of about $85 million this year, up from $69 million last year. The funding from Kleiner Perkins was its first outside investment.
"We're the definition of a bootstrapped company," Cozzens said. "The founders started when they were in their twenties and used sweat equity to build it, and they're still very much involved in the company."
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