TrackVia Announces Major Growth Investment from Primus Capital
Investment to Expand Product Offering and Customer Reach in Low-Code Market
DENVER, April 10, 2019 /PRNewswire-PRWeb/ -- TrackVia, the leading low-code application platform, today announced that Primus Capital (Primus) made a major growth investment in the future of the company and its low-code platform strategy. The investment by Primus will accelerate TrackVia's continued rise as the preferred platform for low-code applications, allowing it to expand its product offering and customer reach within the market.
"Our partnership with Primus will allow TrackVia to further invest in its market-leading low-code application platform focused on workflow applications that enable businesses to digitize their operations resulting in incredible levels of performance, cost-effectiveness, and quality," said Pete Khanna, CEO of TrackVia. "We're excited to partner with Primus to continue our investment in our customers' success, company growth and leadership in the low-code market."
According to Forrester, the low-code market is expected to grow to $22 billion in 2020. TrackVia has been a pioneer in this market since 2006 and continues to be recognized as a market leader by industry analyst firms Gartner and Forrester, having achieved placements in Gartner Magic Quadrant and Forrester Wave.
"TrackVia's success is fueled by its ability to provide customers with business led, IT approved applications," continued Khanna. "These applications can be built by business users through an innovative application builder interface and advanced features to provide enterprise scalability and security for businesses, all instantly available on any mobile device."
"TrackVia offers large and mid-size enterprises the best platform for digitizing their operations," said Jonathan Dick, Managing Director of Primus. "Businesses need low-code applications built on TrackVia to automate critical and unique workflows with little to no IT involvement." Aaron Davis, Director of Primus, added, "Unlike other players in the market, TrackVia delivers the right combination of powerful capabilities, ease of use, and quick time to value. We look forward to working with the management team to build upon their successes to date."
The TrackVia management team will continue to be actively involved in the day-to-day operations and growth strategies of the company.
Macquarie Capital served as exclusive financial advisor to TrackVia in the transaction.
About TrackVia®:
TrackVia, the leading low-code workflow platform for operations, helps companies build applications that improve on-time performance and reduce costs. TrackVia offers operations leaders the fastest and easiest way to build powerful applications that are business led and IT approved. Companies like Stearns Lending, Honeywell, and Brinks rely on TrackVia to digitize their operations. Learn more at: https://www.trackvia.com
About Primus:
Primus is a growth-oriented private equity firm focused on investing in leading software, healthcare and technology-enabled services companies. Primus partners with exceptional management teams to accelerate growth, improve operating performance, and increase the value of the companies in which they invest. Primus pursues buyouts, control and minority recapitalizations, secondary share purchases and expansion financings; this flexible approach enables them to engage with business owners and design tailored investment structures to meet the particular needs of the transaction. Learn more at: http://www.primuscapital.com
SOURCE TrackVia
Share this article