What Trackwell does

Trackwell is a privately held Icelandic software firm founded in the mid-1990s that builds enterprise B2B solutions for transforming mobile data into structured business intelligence. The company operates four branded SaaS products — FiMS (Fisheries Management System) for government fisheries authorities, Floti for commercial fleet management, Hafsyn for maritime fishing-data sharing, and Tímon for time-and-attendance and HR — each served by its own product management function and dedicated web domain. Underlying these products is a mobile resource management platform that captures real-time data streams and converts them into structured, decision-grade information, supported by API integration, cloud-based delivery, and cybersecurity practices.

The company sells primarily through direct enterprise and government engagement rather than self-serve channels, targeting fisheries authorities and commercial fleet operators across 11+ countries. Revenue mechanics combine recurring SaaS subscriptions across the four product lines with professional services for enterprise software development, custom integrations, and consulting. Trackwell is bootstrapped or organically funded: the only disclosed external capital consists of small R&D grants from Iceland's Technology Development Fund and the EU's EISMEA, totaling well under $1M cumulatively, with no venture or private equity investment documented.

Trackwell employs over 200 people globally, with a flat, decentralized culture and concentrated expertise in software development, service consulting, and product management. The leadership team comprises CEO Jón Ingi Björnsson, CFO Harpa Harðardóttir (with co-founder Kolbeinn Gunnarsson active in commercial and fisheries roles), COO Sigurður Egill Guttormsson, and Board Chairman Árni G. Hauksson. With no M&A, no disclosed revenue figures, and no venture funding, the business model is consistent with a mature niche software vendor that compounds through long-cycle government and enterprise contracts rather than rapid scaling.

Name

Trackwell

Legal name

Trackwell

Website

https://trackwell.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Trackwell is a 30-year-old Icelandic software firm that transforms mobile data into structured business intelligence. It sells four enterprise SaaS products — FiMS, Floti, Hafsyn, and Tímon — to government fisheries authorities and commercial fleet operators across 11+ countries.

Ownership category

akta.pro rank

Product category

Enterprise Fisheries and Fleet Management Software

NAICS

Software Publishers (5132), Computer Systems Design and Related Services (54151)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)

akta.pro primary industry

Fleet, Asset Tracking & Telematics Location Platforms (BPAMANAF)

akta.pro secondary industries

Data & Analytics Platforms (Data Warehousing, Lakes, Streaming) (HDABAAAF), Farm Management & Decision Support Software (FMIS, ERP, Recordkeeping) (AFAGALAA)

Keywords

• Fisheries management software
• Fleet management software
• Mobile data analytics
• Time and attendance software
• Enterprise software development

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Software Subscriptions (SaaS): Trackwell generates revenue through subscription-based software products including FiMS (Fisheries Information Management System), Floti (Fleet Management), Hafsyn (Fishing data solutions), and Timon (Time and Attendance). These are cloud-based, enterprise-grade software solutions provided as ongoing subscriptions to government authorities and commercial businesses.
2. Enterprise Software Development: Custom, enterprise-grade application development services for complex challenges and operational efficiency across organizations.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Trackwell develops and sells cloud-based enterprise software products that harvest and transform real-time mobile data into structured business intelligence. Its portfolio includes FiMS (Fisheries Management System) for fisheries authorities, Floti for fleet management, Hafsyn for maritime fishing data sharing, and Tímon for time and attendance. The company also delivers enterprise software development, data analytics, API integration, and cloud-based cybersecurity services to government and commercial clients worldwide.

Product overview

Trackwell offers a portfolio of four distinct software products: FiMS (Fisheries Management System) for sustainable fisheries management and control, Floti for fleet management with real-time tracking and performance analysis, Hafsýn for maritime data sharing including fishing trip endurance and results, and Tímon for time and attendance/workforce management. These products share a foundation in mobile data transformation and analytics but serve distinct industry verticals (fisheries, fleet/logistics, maritime, and HR respectively). The company also provides associated professional services including enterprise software development, data analytics, and cloud-based solutions.

Differentiator

Problem solved

Functional benefit

Brands

• fIMS: A state-of-the-art fisheries management software providing powerful near real-time insights for authorities and organizations to sustainably manage and control fisheries activities.
• Floti
• Hafsýn
• Tímon

Products and services

• FiMS (Fisheries Management System)

Quantifiable outcome

• Near real-time insights for sustainable fisheries management
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fleetio: Cloud-based fleet maintenance and management software serving commercial operators. Directly comparable to Trackwell Floti's maintenance monitoring and performance analysis capabilities.
• Geotab: Leading fleet management and telematics SaaS provider. Directly comparable to Trackwell's Floti product in fleet tracking, maintenance monitoring and performance analytics for commercial operators.
• Trimble Transportation: Telematics and fleet management solutions for transportation and logistics. Comparable to Floti and aligned with Trackwell's mobile-data-driven approach to fleet optimization.
• Samsara: Public IoT/fleet and operations platform offering real-time tracking, telematics, and workforce management across multiple verticals. Closely comparable to Trackwell's combination of Floti (fleet) and Tímon (workforce) on a much larger scale.
• MarineTraffic: Maritime data and vessel-tracking platform serving shipping companies. Directly comparable to Trackwell's Hafsyn product in providing accurate, up-to-date vessel and fishing data to shipping operators.
• Deputy: Cloud-based workforce management and time/attendance SaaS for shift-based businesses. Directly comparable to Tímon's employee hour tracking, shifts, scheduling and payroll-streamlining features.

Broad incumbents

• Kongsberg Maritime: Established maritime technology supplier covering vessel operations, fisheries, and ocean science. Comparable to Trackwell's FiMS fisheries management and Hafsyn maritime data products, though as part of a much broader portfolio.
• UKG (Ultimate Kronos Group): Large workforce management, time and attendance, and HR platform. Comparable to Trackwell's Tímon product in time tracking, scheduling and payroll streamlining, though UKG operates at much greater scale and breadth.
• Verizon Connect: Large incumbent fleet management and telematics platform from Verizon. Comparable to Floti's fleet tracking and maintenance monitoring, with broader resources and a more developed partner ecosystem.

Regional players

• Visma: Nordic-headquartered software conglomerate providing SaaS solutions across HR, accounting and sector-specific verticals. A useful comparison as a regional Nordic software player that has scaled via acquisitions in adjacent verticals — a possible strategic analogue for Trackwell's multi-product portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds6 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trackwell