WakeCap acquires Trackfy to expand into Latin America

Saudi Arabia-based contech WakeCap has acquired Brazil’s Trackfy, a workforce safety and operational intelligence platform serving major industrial clients. Founded in 2017 by Hassan Albalawi and Ishita Sood, WakeCap specialises in wearable tech solutions that provide real-time monitoring for contractors and project managers, reducing risks and improving efficiency on construction projects. The acquisition expands WakeCap’s global footprint into Latin America, establishing Brazil as its new regional headquarters, and extends its platform beyond construction into operations and maintenance, allowing clients to manage projects through the full facility lifecycle. Last May, WakeCap raised $28 million in investment. Press release: WakeCap, the sensor-powered project intelligence and controls platform trusted by the world's most complex construction and oil and gas projects, announces its acquisition of Trackfy, a workforce safety and operational solution for industrial companies. The acquisition underscores the Saudi company's commitment to expanding its global reach, diversifying product capabilities, and deepening customer relationships across the construction and industrial lifecycle. WakeCap's expansion comes at a time when global infrastructure investment is surging, with the Kingdom of Saudi Arabia alone investing nearly $1 trillion in construction and urban development. Aligned with the ambitions of Vision 2030 to create safer, smarter, and more sustainable built environments, WakeCap's ability to bridge Silicon Valley innovation, Saudi-scale delivery and now Brazilian reach uniquely positions the company at the intersection of AI, IoT, and industrial transformation. Beyond expanding into Latin America, with Brazil as the new LATAM HQ, the Trackfy acquisition allows WakeCap 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. "Trackfy brings both regional expertise and product capabilities that perfectly complement WakeCap's vision to put workers first, make jobsites safer, and bring clarity to the world's most complex construction projects," said Dr. Hassan Albalawi, Co-Founder and CEO of WakeCap. "WakeCap's ability to capture and act on real-time jobsite data is critical for high-performing project controls, and this acquisition fuels our next stage of growth as we expand our global footprint, increasing the value we deliver to customers through richer insights, faster reporting, and greater operational efficiency. This is a strong cultural fit, and we are excited to welcome the Trackfy team to WakeCap." "WakeCap's mission has always been to solve the construction industry's most urgent problems through data, software, and IoT, while Trackfy has done the same across the operational core of industrial environments," said Tulio Cerviño, CEO of Trackfy. "Joining forces enables us to scale our technology, expand into new regions, and serve customers across the full lifecycle of industrial projects. This move is more than just an acquisition – it's a big step toward the realisation of a shared vision: to build the global standard for smart operations and industrial intelligence." The acquisition will combine WakeCap's expertise in global construction technology with Trackfy's strength in industrial operations. WakeCap transforms how construction projects are managed through live, site-wide visibility across workforce, safety, productivity, and progress. Its technology protects and empowers jobsite workers, transforming construction sites into a safer and more reliable place to work. With more than 150 million labour hours tracked and deployments across $120 billion in active projects – including Aramco, NEOM, Qiddiya, and King Salman Park, as well as global projects in the UAE, US, Brazil and Japan – WakeCap is setting the standard for how data drives performance, safety, and accountability on the jobsite, leading to data-driven business decisions and reduced insurance costs.