TrackVia Raises $7.1M From Longworth, Fairhaven, Access, Flywheel, Others

TrackVia said it raised $7.1 million in a fundraising round led by Longworth Venture Partners and Fairhaven Capital, and joined by Access Venture Partners, Flywheel Ventures, Draper Associates and Allen & Company. The funds will go to expand sales, marketing and engineering operations at the applications development services company.

PRESS RELEASE

TrackVia Raises $7.1 Million to Fuel Growth

Offers a Faster, Better Alternative to the IT Department or Custom Development Projects, Makes Building Applications Easy for Non-technical Business People

DENVER – (Sept. 24, 2012) – TrackVia™, providers of an online platform that helps non-technical business people build and deploy their own custom or purpose-built applications, today announced it has secured $7.1 million in new funding. Led by Longworth Venture Partners and Fairhaven Capital, along with participating investors including Access Venture Partners, Flywheel Ventures, Draper Associates and Allen & Company, the new funds will be used to accelerate the expansion of the company’s sales, marketing and engineering operations.

“We believe TrackVia is leading a powerful movement where front-line workers design and deploy their own applications without having to rely on IT to do it for them,” said Nilanjana Bhowmik, General Partner with Longworth Venture Partners. “Our investment underscores our confidence in TrackVia’s platform, as well as the company’s vision and its executive team.”

Rick Grinnell, co-founder of Fairhaven Capital added, “Similar to how WordPress made building websites fast and easy for non-programmers, we see TrackVia becoming the go-to solution for any business or enterprise that needs to build an application quickly, or needs something that’s easily customized for its individual department or business.”

Start-up businesses to Fortune 500 enterprises use TrackVia to create everything from customized versions of common workflow applications like CRM, HR management and inventory management to purpose-built applications for vertical industries such as real estate, automotive, hospitality and healthcare. TrackVia cost as much as 80 percent less than generic software or SaaS solutions, can be deployed in a matter of hours or days with little to no assistance from IT and can be fully tailored to meet the unique needs of an individual workgroup, department or company.

TrackVia serves thousands of users and businesses in more than 40 countries around the world.  The company is lead by Pete Khanna, CEO and Chris Basham, co-founder and COO. With this financing, Nilanjana Bhowmik of Longworth Venture Partners and Rick Grinnell of Fairhaven Capital have joined TrackVia’s board of directors.

About TrackVia
TrackVia is a do-it-yourself application builder for business people – a faster and easier alternative to the IT department or custom development projects. TrackVia customers have built thousands of applications, ranging from commonly used business solutions for CRM, order management, support case management, software bug tracking and product catalogues to highly tailored vertical applications for corporate real estate, healthcare, travel and hospitality, and even automotive and manufacturing industries. TrackVia is sold on a simple and affordable month-to-month subscription plan. For more information or to sign-up for a free 14-day trial, please visit www.trackvia.com.

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