By Trackunit

Trackunit Net Revenue Surges to DKK 506m in 2021

Trackunit has unveiled a strong set of numbers in its annual report for 2021 as it connects more than 1 million assets to its SaaS-based, IoT platform.

IoT solutions-provider Trackunit has unveiled a strong set of numbers in its annual report for 2021, including the following highlights from the 2017-21 period.

  • Annual recurring revenue of DKK824m (USD138m), a CAGR of 42%
  • Net revenue of DKK 506m in 2021
  • 5.3x growth in subscriptions to 1.1 million, a 52% CAGR
  • 3.3 times increase in employees to more than 350
  • More than 1 million assets connected.

The report, entitled ‘Getting Connected. Being Useful.’, has taken connectivity as its central theme and Trackunit outlines its continued commitment to eliminating downtime in the construction industry which has placed the off-highway, IoT connectivity provider at the heart of the movement since it emerged in 2019.

Other highlights from the year 2021 include the following:

  • Trackunit’s acquisition by Hg Capital
  • Acquisition of ZTR’s industrial IoT division boosting North American presence
  • The launch of Trackunit Kin and Bluetooth mesh network
  • Organic entry into the Asia-Pacific-Japan market.

It also covers Denmark-headquartered Trackunit’s strategic approach to both its organic and inorganic growth, its stance on a variety of ESG initiatives and how it seeks to give its people autonomy and the power to make clear decisions.

CEO Soeren Brogaard said: “We chose connectivity as the theme because it is a key element in building the ecosystem that will ensure we can as an industry tackle downtime and make more efficient use of our tools and other essential equipment.”

Brogaard adds: “We want to be useful to the industry and ultimately, to the world and the ways we want to do this are outlined in the report. There’s so much we can do as an industry as we head towards a more sustainable future, and we are determined to keep those messages on the table.”

You can read the report here.

About Trackunit:

Trackunit is a technology company that orchestrates the data and infrastructure that connects construction.

The construction industry uses Trackunit’s software and IoT devices to connect to the ecosystem of construction from one platform connecting people, assets, and processes. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive, and predictive information, empowering customers with data-driven foresight.

Trackunit delivers an integrated operating platform with applications and services enabling construction professionals to increase business efficiency by optimizing machine utilization, operator safety, digitizing workflows, and ultimately eliminating downtime.

Trackunit promises to lead the technology engagement to help eliminate downtime. The mission is not only to recover from budget and schedule overruns but also to re-establish the reputation of the industry for innovation and leadership.

Trackunit services its customers worldwide from its offices in Denmark, Canada, Chicago, IL and Singapore, Sweden, Norway, France, the Netherlands, Germany, UK, Australia, and Japan.

Visit to learn more.

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Published: 01. July 2022

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