Geoforce uses GPS to send information to a satellite that beams it to a
desktop application similar to the consumer app “Find My Phone.” The
technology tracks where a tank is, how close it is to available jobs and if it is
compliant with current regulations—all valuable information for the tank
owners and drilling companies’ job site managers.
“You can get a record that will prove where the GPS was at any given
time,” Davis says.
Private equity capital is supporting Geoforce’s rapid growth; revenue has
increased nearly 100 percent each year over the last five years. Geoforce’s
first international subsidiary, Geoforce do Brasil, launched in 2013; it is
already a leading force in the offshore Brazilian market.
Meanwhile, Geoforce has plans for additional expansion to support the
global oil and gas industry with an immediate focus on the Asia-Pacific
region and Europe. A portion of the PE funds will also be used to enlarge the
company’s product development staff and its multi-national sales, marketing
and customer support teams.
Davis says, “There’s so much opportunity in the energy space; there’s no
need to branch out into any other verticals at this point.”
GPS tags track
70 types of