Fleet management consultancy on track for growth with £500k investment

A North West fleet management consultancy has received half a million pounds investment to further develop new software.

The North West Fund for Venture Capital - managed by Enterprise Ventures - has given the funds to Telepath, of Salford, to enhance their Telemetrics system.

The software allows operators to analyse and improve the efficiency of large vehicle fleets by reporting data on vehicle usage and driver behaviour and working patterns.

As part of the investment deal, Telepath has appointed Jonathan Firth as non-executive Chairman.

Will Clark, investment director with Enterprise Ventures said: “Telepath’s systems are more sophisticated than those currently on the market and allow operators to monitor a whole range of factors, from the extent of harsh braking or acceleration to accident trends, fuel efficiency, idling and vehicle downtime.

“The business has already gained traction with major operators in international markets. The funding will help it to further develop its presence in the UK market.”

Telepath was established in 2011 by Carolanne Hurley, who has over 20 years’ experience in IT.

As Managing Director of Pinacl Services, she helped grow revenues from less than £0.5m to around £20m prior to the group being acquired by Tyco.

Hurley, who started Telepath using her own money and now leads a ten-strong team, said: “While there are many companies providing telematics systems, Telepath offers a different approach.

“We regard ourselves as a fleet and personnel consultancy, rather than a telematics business, as we take data and translate it into business information to show our customers how to improve efficiency and reduce cost.”

Other software packages from Telepath provide visual tracking of fleets, assets and personnel. The company also provides a consultancy service.

The North West Fund for Venture Capital is part of the £155m North West Fund, which is provided jointly by the European Regional Development Fund and the EuropeanInvestment Bank.

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