Infusion of growth capital accelerates product development for expanded IoT platform offering and powers the company’s go-to-market efforts.
The Tokarz Group (TTG) today announced their commitment to fund Trynzic’s market entrance stage with targeted investments into Sales, Marketing, and continued Research and Development into additional industry verticals.
Trynzic enables businesses to incorporate the emergent world of the Internet of Things (IoT) into their established business processes and their current “best of breed” information technology (IT) portfolios. Trynzic’s initial offering targets energy distribution utilities, allowing them to lower grid operational costs while simultaneously improving their grid’s service quality.
The Tokarz Group, a private merchant bank, is owned and led by Mr. Michael Tokarz. Mr. Tokarz has a storied track record of building value across a variety of markets and industries and has served on a multitude of name-brand boards of directors. Michael and his son Andrew founded Trynzic in 2018 as part of TTG’s portfolio of investments into energy and software. Andrew serves as Trynzic’s CEO.
“Michael has always had an intense interest in resource optimization. You can see this in TTG’s portfolio of investments and in how he lives his life daily,” said Andrew Tokarz. “With Trynzic, we saw the opportunity to be part of a paradigm shift in how advanced software and physical assets (IoT) come together to transform businesses.”
Trynzic’s product direction and development is lead by CTO Morgan Korn, who has been with Trynzic since the beginning.
“Being part of The Tokarz Group’s portfolio of companies is an innovator’s dream,” said Korn. “Michael and Andrew presented the product team with a business opportunity in energy and said, “go for it.” Through their vision and long-game approach to investing, we have built an SaaS IoT platform that takes full advantage of Microsoft’s serverless cloud fabric and allows us to offer game-changing IoT-to-business capabilities across multiple industry verticals.”