Ecotrak, the leading intelligent facility and asset management platform, today announced its latest bridge round of funding, which will be used to accelerate Ecotrak’s aggressive growth plans in product development and innovation. The round was led by Gala Capital Partners and included investments from Rellevant Partners.
Ecotrak's SaaS offering enables multi-location businesses to automate repairs and maintenance, manage work orders, assets, and service providers. Ecotrak's differentiated data-driven software aggregates data to intelligently prevent equipment failures, keeping businesses efficiently running. The technology is revolutionizing the restaurant industry by reducing equipment downtime, increasing productivity, and saving restaurants money on repairs and maintenance so they can focus on the guest experience.
“This round of funding propels us into the next phase of Ecotrak and we are proud to partner with these notable investors,” says Matt Singer, CEO. “We are in fantastic company with a team that has deep experience fueling high-growth restaurant concepts and technology.”
Rellevant Partners is a private equity firm focusing on the lower middle-market, providing growth equity to the restaurant, restaurant technology, and food & beverage industries. Rellevant was founded in 2019 by Janice Meyer and Jessica Kates and is based in New York.
Gala Capital Partners is a private investment firm based in Southern California founded by long-term restaurant operator, entrepreneur, and investor, Anand Gala. The firm invests in or acquires real estate, software, and emerging restaurant franchise brands. Current investments include Altametrics, Lunchbox, Plate IQ, Perfect Software, Cut & Dry, Simple 123, Rusty Taco, Dunn Brothers Coffee, Cicis Pizza, and MOOYAH Burgers, Fries & Shakes.
The investment comes on the heels of significant growth for Ecotrak in 2022, adding more than 10,000 locations and over 13,000 service providers to its platform. With Ecotrak's asset first philosophy combined with predictive analytics and automation, Ecotrak is reducing the downtime of critical equipment and creating a solution so smart that nothing ever breaks.
“Between labor shortages, supply chain issues, construction lead times and increasing operating costs, Ecotrak’s intelligent facility management solution is helping restaurants reduce uncertainty and plan for the unknown with rich business intelligence data,” says Janice Meyer, Co-Founder and Managing Partner at Rellevant Partners.
“We are thrilled to partner with Matt and the Ecotrak team to support their mission of simplifying facilities management and empowering businesses with actionable data to make better business decisions,” says Jessica Kates, Co-Founder and Managing Partner at Rellevant Partners.