Investigation and security services

Guard-company software has two incumbents, and a buyer usually needs both of them. The back office of the big guard firms runs on TEAM Software. WinTeam is an ERP that holds payroll, billing and job costing for contract security and janitorial companies. TEAM says 65% of the largest US security companies run on it [C, vendor, checked 2026-10-08]. It has sat inside WorkWave, an IFS company, since September 2021 [B, from the 561722 record]. The field layer has already been rolled up by Trackforce. Guard tours, post orders, incident reports, mobile patrols and client portals are its ground. Trackforce is backed by K1 Investment Management. It bought Silvertrac, the small-firm tool with 600+ North American customers, in January 2020 [B]. It then bought Montreal's TrackTik in June 2022, on undisclosed terms [B: BetaKit, K1 release]. TrackTik had raised $54.5M by then, the last $45M in January 2019 from Georgian and CDPQ [B]. Trackforce now sells TrackTik, GuardTek (its EMEA product) and Silvertrac under one roof, and claims 600k+ active users in 50+ countries [C, vendor]. The only Canadian champion in the category is therefore already inside a US private-equity platform. The funded challengers attack the gap between the two: one system for back office and field, sold to small and mid-size guard firms. Belfry (New York) raised a $12M Series A in January 2025 led by Base10 Partners, bringing it to $20M in total [B]. Guardhouse (Sydney) started on an A$850K seed in 2020 [B]. It took growth equity from Sundance Growth in March 2026 [B: BDO deal note, amount undisclosed]. In August 2026 it bought Florida's Mobohubb to add patrol verification and push into the US [C, vendor release]. Guard Owl reportedly raised a $3M seed led by Tower Research Capital in February 2026 [C, not confirmed from a primary source]. Below them is a long, cheap tail. QR-Patrol (Terracom, Greece) lists guard-tour plans from $3.20 a guard a month, and Guardix from $8.99 a user a month [C, vendor price pages]. OfficerReports (Baton Rouge) claims 700+ companies [C], and Celayix sells shift scheduling across security and healthcare. The buyers are consolidating faster than the software. Allied Universal closed its $5.28B purchase of G4S in March 2021, creating a $18B-revenue firm with 750,000+ staff [B]. Every large consolidation takes a WinTeam-or-Trackforce customer off the market for a newcomer. What is left is thousands of small, thin-margin guard firms. The best-funded entrant in years (Belfry, $20M) and an Australian roll-up (Guardhouse) are already chasing them. Incumbent vulnerability decides it. Neither incumbent is weak, the consolidators below them are pulling share toward the enterprise products, and the SMB seat is contested by Belfry, Guardhouse, Silvertrac and a sub-$10-a-guard tail. The only angle worth keeping is a narrow one for an operator: in BC, guard licensing and compliance tracking under the provincial security-worker licence regime could be sold as an add-on that plugs into TrackTik or WinTeam, rather than as a competing platform.