CMS SupaTrak, a UK-based provider of vehicle tracking and mobile working solutions, has raised an undisclosed amount of third-round funding from the YFM Group (managed by South West Ventures Fund).
Swindon-based vehicle tracking and mobile working solutions company CMS SupaTrak has secured a further round of funding from the YFM Group managed South West Ventures Fund (SWVF). The funding will allow CMS SupaTrak to develop its EcoTrak service.
This third round of funding will be used to build the sales pipeline for EcoTrak, a fuel saving technology which enables fleet operators to analyse and measure fuel usage, carbon emissions and driving style for the purpose of managing fuel costs. The technology produces detailed reports on driver and vehicle management including miles per gallon, speed, revolutions per minute, engine load, idling time and time spent in cruise control – all of which have a major impact on fuel consumption.
Jason Airey, Managing Director of CMS SupaTrak said: “On average fuel can represent 30 per cent of a fleet’s total operating costs. Driving style, mileage and type of vehicle can all affect a fleet’s overall fuel bill. By understanding these factors and learning how to monitor and manage them, significant cost savings are being achieved.
“Our faith in our product has been endorsed by our ever increasing sales pipeline and the YFM Group investment which will help us to substantially grow our customer base and increase our sales force too.”
EcoTrak’s ability to reduce fuel costs and carbon emissions was highlighted at the national GreenFleet Awards 2008, where CMS SupaTrak was commended in two categories: Industry Innovation and IT/Communications Product of the Year.
CMS SupaTrak is also working with the Diamond Standard Carbon Exchange and verification of EcoTrak’s carbon monitoring and reduction technology is expected over the next few months.
Over the past few years the company has won several prestigious accounts including Birmingham City Council, Network Rail, Hampshire County Council and Royal Mail.
Julian Dennard, senior investment manager with YFM Group, managers of the South West Ventures Fund, said: “This latest investment into CMS SupaTrak is a sound opportunity to provide further financial backing to an experienced and visionary team with an exceptional product.
“This is an exciting sector with the potential to deliver incredible savings, efficiencies and new ways of working for businesses and staff.”
CMS SupaTrak also offers SupaTrak – a web-based vehicle and asset tracking solution – improving the security of goods and assets, enabling real time fleet visibility with updates every 60 seconds and JobTrak – a job allocation and scheduling solution for mobile workers.
YFM Group is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £300 million of funds with investment sizes ranging from £50,000 to £5 million. Principal offices are located in Leeds, Manchester, London and Bristol with over 45 investment professionals being employed across the UK.
In 12 months up to 31st May 2009, the funds managed by YFM Group invested just under £40m in 108 companies.
South West Ventures Fund was established in 2002 to provide risk capital of up to £660,000 to SMEs in the South West of England. To date the Fund has invested £12m in 31 companies in a wide range of high-growth sectors from software, electronics, telecoms and biomedical, to defence and speciality foods. The Fund is now actively engaged in focusing on its portfolio of companies, supporting them in their growth and development.
South West Ventures Fund is managed by YFM Venture Finance Limited part of the YFM Group. YFM Venture Finance Limited is authorised and regulated by the Financial Services.
CMS SupaTrak Ltd specialise in the supply of cost effective, flexible Vehicle Tracking and Mobile Working solutions. CMS SupaTrak has been providing services to customers for over 16 years and the SupaTrak solution is regarded as one of the most versatile and cost effective vehicle tracking and fleet management systems available in the UK today. We have had significant success in this market and secured prestigious accounts including Birmingham City Council, Network Rail, Enterprise plc, Hampshire County Council and Royal Mail.
Unlike other system providers, all the components of our solutions are designed and manufactured in-house and installed by our own CMS SupaTrak engineers.
Our team consists of industry professionals with over 50 years of combined experience in the telematics fleet management and mobile worker industry. Having control of every aspect of our products enables us to deliver lower cost solutions, whilst maintaining the flexibility to meet the ever changing needs of our customers.
All our products can be used individually or combined to provide a multifunctional solution for vehicle tracking and mobile workers. Whether you require a Vehicle Tracking, Mobile Working solution or a combination of the two, CMS SupaTrak is the right choice for your organisation.