By Allan Maurer
UPDATED ATLANTA, GA—Agentek, a company selling software to keep mobile workers wirelessly connected to the enterprise, has closed an $8 million Series A round led by Edison Venture Fund of New Jersey. The investment will accelerate Agentek’s sales and marketing of its mobile field automation software.
CEO and President Jeff Jarvis tells TechJournal South this is the company’s first outside investment. Founded in 1995, it was ERBITA positive last year and at this time does not plan to seek additional funding, Jarvis says.
Agentek plans selective hiring in the next three quarters. It currently employs 49 full time and 13 or so contractors.
Jarvis says the company’s 15,000-square-foot space in Alpharetta overlooks a wild life preserve. “There are otters, deer, nesting Eagles. It’s like the Wild Kingdom here,” he says. The company has room to expand in its current location should it need to, he adds.
Primary verticals
Agentek sells to two primary verticals. Private fleet and logistics customers include companies that deliver mattresses, propane, hardware bits and even wine and spirits. They include logistics fleets fo from 200 to 3,500 drivers/trucks spread across the United States.
The field service space includes customers who have, typically, 1,500 field technicians who perform various services such as repairing copiers or commercial air conditioners, and need their system integrated to the company’s back office. They need real time inventory access, the ability to look up parts, route trucks, integrate GPS.
“It’s all the stuff that improves efficiency and saves money,” says Jarvis.
He says the company does “three things better than the average bear.” They include a core protocol developed by the founder that does wide area network management better than standard approaches. “That creates a very strong foundation for the house,” says Jarvis.
Market set to explode
But you don’t live in a foundation and continuing the analogy, he adds, “The house is the applications built so that they’re user friendly and intuitive. They help drive the technician through his activities, looking up a part, signature capture, calling ahead. We make it easy for the guy in the blue shirt with his name on it.”
Third, he says, Agentek provides support and training that “makes the transition easy and painless.”
“The mobile field force market is set to explode and Agentek is positioned as the software development leader,” says Joe Allegra, the Edison general partner who will join Agentek’s board.
“Executives look at their kids’ mobile devices and marvel at the much more powerful applications compared to those used by their own company’s field force. Agentek has what is needed: a powerful, comprehensive solution to quickly build robust enterprise-class mobile solutions.”
Strong ROI
The company says its software solutions enable service-minded organizations to improve field force productivity and efficiency, reduce service related fuel, parts, and vehicle costs, and improve customer service and retention.
Jarvis notes, “The promise of mobile solution business breakthroughs has been around for years, mostly unfulfilled except for costly, complex custom solutions. Now, with radically reduced mobile equipment and connection costs, the economics are there for mobile applications breakthroughs.”
The company’s products can pay for themselves in a year, providing strong ROI, he says, adding,
“This investment allows us to greatly expand the reach of Agentek’s product and service offerings.”
The company’s competitors tend to be different in each vertical, Jarvis says, but include Astea, VEntyx, Antenna and others.
On the Web:www.agentek.com
Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org
© 2008, TechJournal South. All rights reserved.
