In early November 2025, WakeCap Technologies said it was expanding its global footprint with the acquisition of Brazil-based Trackfy, a worker safety and operational tracking solution for industrial companies. The acquisition was said to underscore WakeCap’s commitment to expanding its global reach, diversifying product capabilities, and deepening customer relationships across the construction and industrial lifecycle.
Beyond expanding into Latin America, with Brazil as the new LATAM HQ, WakeCap said the Trackfy acquisition allows it to support clients long after construction is complete. By adding operations and maintenance capabilities, WakeCap can stay with projects from the build phase through to daily industrial operations, offering a single connected solution across the full lifecycle of a facility. This approach significantly increases the long-term value the company delivers to its customers, the firm said.
Here, Big Project Middle East’s Jason Saundalkar talks to Di-Ann Eisnor, President of WakeCap about the company’s performance in 2025, the acquisition of Trackfy, and key issues in the built environment that WakeCap is looking to address.
- Outline WakeCap’s performance to date in 2025? What were some of your main goals and have they been achieved?
2025 was about maturity at scale. We operated our entire business to serve customers better. It centres around a single intelligence platform for progress, productivity and safety. A few examples of metrics for the year include: we broke $150B in active projects which matters since we only focus on mega and giga projects- it keeps us focused; grew our TCV by 4X. TCV is the number we use to determine how much trust we have from our customers. The more they trust us, the more business we win; we have embedded teams for every major customer which in some cases even live on site. This ensures a fast cycle from discovery of problems facing our customers on a daily basis to solutions from the ground up. We call it solutions coverage and we track the %. This embedding mentality keeps us with the best knowledge of customer needs, number of use cases and impact of the solutions.
Last but not least, on the solutions side, we have really forged ahead on the entire intelligence platform, connecting data across entire portfolios as well as within projects having progress, productivity and safety data talk to each other in RT for the best decision making. This has included expansion of our sensor powered project controls and significant advances in our computer vision.
- Outside of Saudi Arabia, which markets in the GCC and beyond are of interest to WakeCap going forward? What prompted the move into LATAM specifically at this stage in your journey as a company?
We’ve been focused on Saudi and have made progress in the UAE. This will remain our focus as we plant seeds where we see the biggest opportunities. We balance intention and opportunity. Outside of KSA, we now have customers in the US, Japan and Brazil. We saw Brazil as a leading market in Industry 4.0. One of our key investors has an office in Brazil, so we’ve spent time understanding and sizing the market opportunity.
- Talk us through how the acquisition of Trackfy came about – what were the main drivers?
We had a lot of customer pull on Operations and Maintenance (O&M) and we knew it would benefit our customers. Through our investor, Graphene Ventures, we met Trackfy and realised it could be a transformative partnership. We could help them scale faster in Brazil and across LATAM and they would accelerate our O&M offering in Saudi. Fortunately, Graphene is with us in the US, Saudi and Brazil so we could piggyback on their reach. This is what great early stage investors look like – truly adding to portfolio company growth.
- What benefits does Tracky’s solution offer to asset owners/operators and construction firms?
WakeCap and Trackfy both obsess over ground truth data and we both use sensors to track real ROI for customers. Our lifecycle can scale from 3 years of construction to 10+ years with operations and maintenance. Customers have a complete lifecycle solution and the ability to turn data to delivery with even less fragmentation and more intelligence. They also have operating manuals and playbooks that are seamless from one stage to the next.
- How will the two companies operate post acquisition? Will the Trackfy brand continue or will it be absorbed into WakeCap? Talk us through the next six months in terms of how the two companies will integrate/work together.
We learned a lot from our acquisition of Crews by Core, so this time we hired a dedicated integration manager that speaks both languages and knows both cultures. We have central sales, finance, operations processes and playbooks, which should help accelerate the Trackfy business in LATAM and ensure we are operating as a unified business. In Brazil the Trackfy brand will remain for now and in the Middle East it will be WakeCap O&M – this is the simplest for customers and markets. And that is the goal: keep it as simple as possible, minimise any negative change and keep focusing on the customer. Here are some elements from our integration plan that your readers may appreciate.
We are committed to giving everyone a voice and protect them from friction, which includes: strategic collaboration – set goals together and create space for bonds to knit; regional execution – minimise friction to execute with local Eng, Product, UX and lean on each team’s strengths.
Our emergent responsibility and priority is for a 3 month plan and then evaluate and create a solid structure where details can be colored in over time – i.e. new customers, new products, technologies.
We’re also focused on proactive transparent communication and offer support for each team and will look for & squash signs of anxiety or territorialism. We’ll drive this home culturally and procedurally: assume best intent; trust & verify and debate & commit.
On day 1, Tulio, the TrackfyCEO was setting his OKRs alongside the rest of the executive team, so he understood the entire set of company roadmap and we have an integrated path from the outset.
- What are some of the near- and long-term targets/goals you have now that you’ve acquired Trackfy?
Solve more customer problems faster; we expect our first POCs with WakeCap O&M by Q1 2026. The demand is huge but we need to move with care to make sure we get it right. I expect a proper go to market by mid 2026. We also have goals around retention of customers and employees as well as core business growth.
- How does WakeCap acquire clients – do you approach companies or do they approach you? Is technology aversion still an issue with built environment stakeholders? How do you get around that challenge?
Both – this is an industry where trust matters. Our customers are the largest owners in the world since we work on mega- and giga-projects. Technology adoption remains an issue especially for ‘innovations’ with no clear business priority. We try to come in and prove the value with hard data from the beginning; time savings, data transparency, safety improvements and cost savings it helps build a deep business case that our customer can rally behind, By embedding with customers, we maintain real-time context, tight alignment with their business, and a cycle of continuous improvement.
- What impact will the acquisition have on WakeCap in terms of its offerings to clients and the company’s ability to solve client problems? How will clients benefit from this acquisition?
Great question! That is the intent of the acquisition. Customers are going to benefit from a single intelligence platform for the entire life cycle of their projects: build → turnover → O&M. The cost savings and time savings between phases will come from the continuity of the sensors, the data lineage and operations.
- Share an overview of the construction industry in terms opportunities and challenges forWakeCap in 2026. What are your strategies to continue thriving and mitigate risks/challenges?
The opportunity for us is giga-scale delivery; safety/regulatory visibility; O&M standardisation, wile risks are contractor fragmentation, talent scarcity, and data sprawl. To mitigate this we have: embedded ops, strict KPI cadence, interoperability first, solutions coverage, AI and computer vision as standard in our platform to increase reliability and cost controls.
- What are the main challenges your clients tend to need your support with the most, whether they are standard scale or giga-projects?
Construction is incredibly complex – on small projects it’s easy to hide errors but on mega- and giga-projects billions of dollars and thousands of lives are at stake. What they need most is a reliable data-driven partner that can adapt to the changing needs of the site. It’s easy to trust us because we use ground truth data from sensors and they have real time access to that data, and to our team on site.
A customer may start with progress tracking or productivity or safety and end up with us managing hundreds of use cases and connecting the entire project (or even portfolio.):
- Fragmentation across 10k–100k workers and dozens of contractors. (plus equipment and vehicles)
- Real-time progress variance, verified labor hours, safety leading indicators
- One intelligence layer over messy reality
- Ability to understand the business case for every solution through real ROI
- Processes and people ensure we don’t just deliver a piece of technology but a full working solution
- Given the focus on accelerated delivery of projects in the Middle East and tight budgets, can technology realistically changes existing mindsets and gives a greater focus to site safety?
Industrial customers are focused on safety more than civil construction. For Saudi we do see a trend toward safety investment. Because the business case is now immediate: incidents down, schedule certainty up, and public-facing events raise the bar. KSA visibility (Expo 2030, major sporting events) bring governance + reputation incentives.
It takes an ecosystem! Other ways we solve more problems for our customers can be through our partners like Oracle, Nemetschek, OpenSpace (and a lot of smaller companies from around the world). We have become a gateway to Saudi for some of the most innovative contech companies because we can know which problems are priorities and how to connect them to our intelligence platform. I’d add people to the mix as well – we’re now 180 people from nearly 40 nationalities covering construction, O&G, strategy consulting, software, hardware and more.
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Source: ME Construction News
