Trackunit collecting 2 billion data points a day

Construction equipment tracking and data company Trackunit reported an 18% increase in revenues to US$170 million (DKK 1.17 billion) in 2023 . The company said it is now collecting more than 2 billion data points a day and has 26,000 monthly active users of its management platforms.

North America represented around 60% of its business last year, closely followed by Europe, with Asia Pacific and Japan representing a much smaller share.

Trackunit parters with Hilti among multiple other OEMs. (Image: Trackunit)

Trackunit CEO Soeren Brogaard said it was another strong performance for the business; “Posting a revenue rise for the year of nearly 20% reflects a trajectory that is consistent with our development as a SaaS-based company, scaling up to something more mature.

“Our data lake is by some distance the biggest in construction with more than two billion data points cleaned and harmonided daily to fuel value creation and we anticipate similar growth in the years ahead.”

Brogaard said around one-third of its spending was on research and development and that its tools “immediately enable [customers] to take better decisions underpinned by data-led insights on being more sustainable, reducing risk, and leveraging efficiencies that can improve their bottom line and unlock value”.

EBITDA profit for the year was $38.5 million, up from $26 million in 2022.

Brogaard said 2023 would be seen as a landmark year for the business; “with the impact of new technology playing a major role in the development of new ways of working, requiring fresh ways of thinking.

“The foundation stones towards moving from a ‘know-it-all’ mentality to a ‘learn-it-all’ mentality were laid in 2023 as business started to come to terms with how to incorporate machine learning into their operations.”

He said industry cloud platforms (ICP), rather than generic platforms, will have a major impact on business going forward; “while these ICPs won’t replace the Cloud, they will be built on top of it and co-exist in the new paradigm.

“Trackunit’s data operating platform Iris has already emerged as a clear frontrunner for functioning as an ICP for construction and we aim to consolidate that role over the coming years.”

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