The move is the latest in a series of growth milestones for Titan Cloud and will enable the company to expand its environmental compliance solutions for SMBs in the retail fuel industry.
“We are excited to welcome the Canary team to Titan Cloud,” said David Freese, CEO and chief product officer at Titan Cloud. “They have a great product-market fit for operators with one to five sites, with an easy-to-use web app and managed connectivity solution. Given Titan’s success with the industry’s largest operators, adding Canary allows us to serve every owner/operator in the industry with best-in-class technology.”
Canary is currently led by founder and CEO Jon Kelly, who started the company in 2016 after several years at ExxonMobil. After the acquisition, Kelly will be senior vice president at Titan Cloud driving growth into the SMB segment.
“We are thrilled to partner with Titan and M33 Growth,” Kelly said. “Their resources and go-to-market expertise will help us fulfill and even expand Canary’s mission, which is to help underground storage tank (UST) owners and operators achieve and maintain compliance in the most reliable and cost-effective way possible. It also helps us expand access to connectivity hardware and intelligent software products for a historically underserved market segment.”
Titan and Canary products monitor fuel throughput at more than 65,000 sites worldwide and serve convenience store groups including Circle K, bp, EG, 7-Eleven, Cross America Partners and Houchens Industries. By combining their software offerings, which include solutions for environmental compliance, SIR and advanced wetstock management, the company plans for significant global customer expansion.
Financial terms of the acquisition were not disclosed.
Titan Cloud Software provides solutions for environmental compliance, advanced fuel analytics, wetstock management and facility maintenance so customers can manage risk and run efficient, profitable businesses. The company’s software monitors half of all U.S. consumer gasoline throughput and covers more than 65,000 facilities. The company was launched in 2012 and is headquartered near Nashville, Tennessee, with offices in Chicago and Melbourne.