Terion receives additional funding for trailer monitoring system

by Canadian Shipper

Terion, Inc., the financially troubled provider of trailer monitoring systems, has reorganized its operations and received an additional $10.8 million from its investor group.

The company, which had a brief presence in the Canadian market before running into financial difficulties, has restructured its business to focus on the FleetView product.

Its restructuring efforts included funding from existing and new investors. Investors include SCP Private Equity Partners II LP, HVFM-II LP in which Harris Corporation is the major investor, Crossbow Ventures, and
ING Capital LLC.

FleetView supplies fleet management information through the Internet from its patented innovative hardware and software design. The design integrates GPS and cellular technology for comprehensive coverage throughout the United States and Canada. The system is concealed to provide a covert installation. It communicates real-time trailer location and event status when the trailer is tethered to or untethered from a tractor, including adetermination of loading and unloading events with FleetView’s Cargo Sensor.

The system supports over-the-air software downloads for device settings and software upgrades. It operates in a standard browser environment on standard PC hardware.

With approximately 50,000 units in the field, FleetView is claimed to be the leading untethered trailer-tracking product in the North American market.

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