KSA-Based WakeCap Acquires Brazil-Based Trackfy To Tackle Global Construction Intelligence

Riyadh- and Silicon Valley-headquartered contech startup WakeCap has announced its acquisition of Trackfy, a Brazil-based workforce safety and operational solution for industrial companies. The move marks not just an entry for WakeCap into Latin America, but a key step to actualizing its vision for fulfilling the full construction lifecycle, from building to daily industrial operations. 

Founded in 2017 by Dr. Hassan Albalawi and Ishita Sood, WakeCap began its journey in the US, secured its first major customer in Dubai, and later relocated its regional headquarters to Saudi Arabia to gain proximity to the Kingdom's giga-project customers. The sensor-powered project intelligence and controls platform, which delivers live, site-wide visibility across labor, productivity, and project progress, turns complex jobsites into safer, smarter, and more predictable environments. 

In an interview with Inc. Arabia, Di-Ann Eisnor, President and Chief Strategy Officer at WakeCap, said that the acquisition of Trackfy is about more than a geographic expansion—it’s a strategic alignment that completes the company’s lifecycle vision. The move follows WakeCap's US$28 million funding round, which was completed in May 2025, to accelerate global expansion across the US, Latin America, and Asia. Eisnor said that “Trackfy is a cornerstone of that plan," saying, “It adds operational and maintenance (O&M) capabilities, which makes our platform stickier and our economics stronger. In parallel, we’ve brought in senior leaders from Snowflake, Bain, Deloitte, OpenSpace, and Careem to scale product, go-to-market, and operations across Saudi/UAE, the US, LATAM, and Asia. The outcome: more markets, more product surface area, and more value per customer—all on one platform.” 

Brazil-based Trackfy is an industrial technology company that has built one of Latin America’s largest knowledge bases on real-time operational intelligence. Through its platform—which serves more than 15 major industrial clients spanning industries such as steel, oil and gas, chemicals, and agriculture—it digitizes field operations, reduces risk, and boosts productivity through its internet of things (IoT) and data analytics. It has reported increasing team productivity by 67 percent, reducing the time required for work permit issuance by 25 percent, and improving operational planning accuracy—not to mention reducing emergency evacuation times by 50 percent, and internal worker travel time by 33 percent in industrial settings. 

According to Eisnor, the synergies between her company and Trackfy will bring WakeCap one step closer to its global vision. “We obsess over customer problems, not just features,” she explained. “Trackfy was a perfect culture fit—founder energy, speed, and focus on outcomes.” Eisnor also noted that, strategically, the acquisition does three things: it completes the WakeCap lifecycle, opens the company to the Latin America (LATAM) market with conviction, and extends its playbook. 

Indeed, by combining WakeCap’s leadership in connected construction technology with Trackfy’s expertise in industrial operations and workforce safety, Eisnor said that it allows her and her team to move deeper into the post-construction phase, unlocking new value in long-term project intelligence and customer retention. "Trackfy strengthens O&M; so, we serve the full project journey, not just [the] build phase," Eisnor explained. "That expands solutions and increases lifetime value (LTV)."

Eisnor also highlighted that Brazil’s maturity in digital transformation and industrial innovation—particularly its leadership in Industry 4.0—provides WakeCap an opportunity to use the Latin American country as a springboard to scale across the region. Beyond market entry though, she painted the move to be a continuation of WakeCap's global-first mindset. “We were the first Saudi tech company to acquire a Silicon Valley startup; now we’re doing the same in LATAM—using the hardest projects as our lab and exporting those learnings globally, starting from Saudi,” Eisnor said. 

WakeCap's Di-Ann Eisnor and Hassan Albalawi with Trackfy's Tulio Cerviño.

WakeCap’s platform, which sits at the intersection of field visibility and data intelligence, transforms how complex projects are managed through live, site-wide insights into workforce, safety, productivity, and progress. “Our first use case was construction—an industry where data transparency was weak and the cost of that opacity runs into billions,” Eisnor said. “Our vision is simple: sensor-powered project controls that turn live field activity into actionable intelligence. Today, we operate one of the largest ground-truth datasets on active jobsites worldwide—from labor hours and site access to safety, productivity, and progress.” 

But convincing large construction and industrial players to embrace sensor-powered technologies like the ones that WakeCap offers has often been an uphill battle. “Construction is famously change-resistant, because visibility is limited and risk is high," Eisnor said. "Many businesses are built on lack of transparency—disrupting that can displace a big part of the industry." But to overcome these hurdles, Eisnor pointed out that WakeCap has focused on quickly proving to its clients the return on investment (ROI) by showing them how planned projects compare to actuals on the ground.

Eisnor also highlighted that WakeCap has also collaborated with what she called "the world’s most ambitious owners," and, in delivering outcomes, they are allowing their solutions to speak for themselves. Additionally, WakeCap focuses on plugging into existing systems and workflows rather than replacing them to encourage and ease adoption. Eisnor also pointed out that the team has gained both trust and credibility by simply being on-site with their clients."Trust is built face to face, hard hat on," Wisnor added. "That’s our culture." 

Eisnor also noted that for an industry where opacity has long been the norm, WakeCap turned transparency into its strongest differentiator. “Transparency was—and still is—the hill to climb," she said. "We made it a competitive advantage." Keeping this premise in mind, the principles that shaped WakeCap’s growth can serve as valuable guidance for other startups aiming to scale, and Eisnor began her advice with one core idea: own the ground truth. “Planned versus actual is table stakes," she said. "We added ‘real’ with real-time primary source data—and it changed safety, progress measurement, and productivity conversations."

Eisnor also urged startups to follow customer pull—even if that means physically moving locations. "We relocated leadership to the Gulf to be close to giga-projects," she shared. "That commitment unlocked the right problems and the right partners.” Obsession over the first customer was also another tactic that worked to the WakeCap team's favor, and Eisnor suggested others to do the same as well. “Earn deep love by solving the must-haves, not the nice-to-haves," she said. "Construction buys outcomes, not demos. We’ve now been mandated on our first customers and solved nearly 100 problems for them that are useful to other customers as well.” 

Eisnor also noted that another crucial element for success, especially for contech enterprises like hers, is understanding the full context of where the work happens. "Be on site," she said. "Knowing the constraints of a live jobsite beats any spreadsheet. It’s why our integrations actually get used.” Eisnor added that maintaining focus has been equally critical to WakeCap’s growth. “We commit to mega- and giga-projects only. That focus keeps the solutions sharp and the value clear," she concluded. 

Pictured in the lead image are WakeCap founder and CEO Dr. Hassan Albalawi and Trackfy co-founder and CEO Tulio Cerviño. All images courtesy WakeCap.