Battery Ventures, a global technology-focused investment firm, has finalized its acquisition of TrueContext, a Canadian field-service workflow-automation company previously known as ProntoForms. The deal, valued at approximately C$150 million, saw TrueContext delisted from the TSX Venture Exchange. Founded in 2001, TrueContext offers a mobile software platform that facilitates efficient data collection and sharing for field-service workers, with applications across various high-complexity industries including medical, oil and gas, and industrial equipment. The acquisition will allow TrueContext to enhance its product development and expand its customer base, aligning with Battery Ventures’ expertise in scaling enterprise software companies. TrueContext serves over 1,500 customers globally, optimizing workflows for asset inspection, installation, repair, and compliance. Battery Ventures sees significant growth opportunities for TrueContext through both organic development and targeted acquisitions. The investment firm is excited to work with TrueContext’s CEO, Alvaro Pombo, and his team to drive further innovation and global market presence.
Technology, Software and Services, Field-Service Automation,Canada, United States, Global
https://www.businesswire.com/news/home/20240517101555/en/Battery-Ventures-Completes-C150-Million-Acquisition-of-Field-Service-Workflow-Automation-Company-TrueContext