ThingTech

ThingTech is an asset management software platform focused on maintenance workflow, scheduling, and work order management for vehicle and equipment-heavy operations. The platform helps organizations identify maintenance issues early, keep assets in compliance, and reduce downtime through structured preventative maintenance programs.

Fleet and asset-intensive organizations often operate in reactive maintenance cycles. When vehicles or equipment fail unexpectedly, the operational and financial cost is significant. ThingTech gives operators the tooling to shift to a proactive posture, using scheduling logic and work order workflows to keep assets maintained on a predictable cadence and within compliance requirements.

ThingTech had previously raised venture capital but had not grown in line with those expectations when Solen acquired the business from its financial investors in 2022. Solen navigated a complex shareholder structure to complete the investment, including preference stacks and multiple equity classes, and recognized the underlying product value that the capital structure had obscured.

Following the investment, ThingTech was integrated into the Track Star platform as a complementary offering, expanding Track Star's capabilities from GPS tracking and telematics into full asset lifecycle management. The combination gives Track Star's government, utility, and fleet customers a more complete operational toolkit within a single ecosystem.