Commercial Launch
In early 2002, the company hired Michael Fitzgerald as CEO. Michael Fitzgerald had a stellar career in the trucking industry including one of the original management team at Federal Express. The company subsequently announced the launch of the GLS technology. In late 2002, AIG Highstar Capital and Cordova Ventures led an $18 million Series B investment. Helen Bentley Delich via Helen Bentley & Associates received $34,000 to assist and advise SkyBitz as it commercially launched into the trucking and transportation industry. Her many accomplishments include being an active businesswoman and lobbyist as the president and CEO of Helen Delich Bentley & Associates, Inc., and also as an international trade, business and government consultant. She also is a consultant for the Maryland Port Administration, Port of Baltimore, which was renamed in June 2006 by then-Governor Robert L. Ehrlich, Jr. as the "Helen Delich Bentley Port of Baltimore." She also currently serves on the Board of Trustees for the Baltimore Museum of Industry. Landstar System, one of the largest transportation firms in the U.S., adopted the service in January 2003.
In January 2003, SkyBitz announced a manufacturing relationship with Solectron, including new product introduction (NPI), test development, printed circuit board layout and design, card assembly and design of the external housing for SkyBitz's mobile terminal. In early 2003 the company then hired Andy Wood as CEO to replace Mr. Fitzgerald. In 2003, the company also received a grant from the Transportation Security Administration for implementing GLS at the Port of Long Beach by the Maritime Administration. SkyBitz joined WhereNet Corporation for this demonstration of a combined port tracking and satellite tracking system for container security. To support this trial, Matthew Schor was interviewed on MSNBC in February 2003 on how U.S. ports were vulnerable to attack and how technology could help.
In January 2004, Inverness Capital and Motorola made a $16 Million Series C investment in SkyBitz. In April 2004, Andy Wood resigned as CEO and the company's CFO, Rick Burtner, became CEO. In 2005, SkyBitz acquired customers in the transportation industry including R&R Trucking, Tri-State Motor, Quality Distribution and J Rayl. The company was also selected as a "2005 Future 50" technology company by SmartCEO Magazine for its strategic direction and customer growth. In 2006, SkyBitz announced smart sensor tracking technology to optimize trailer utilization, improve reporting and maximize security. The company was named a “Rising Star” in Deloitte & Touche USA LLP's Technology Fast 50 program for the state of Virginia. SkyBitz also became the official tracking solution for the delivery of the United States Capitol Christmas Tree. Also in 2006, Bob Blair joined the company as CFO.
In January 2007, Abdul Hamid Rana became CTO. In February 2007, the Canadian Imperial Bank of Commerce (via CIBC Capital Partners) led the fourth round of funding totaling $10 million. In October 2007, Homaira Akbari replaced Burtner as CEO. By the end of 2007 SkyBitz had acquired more than 400 customers in North America and added two new products: a cargo sensor and tractor/trailer ID. The company was also ranked in Inc. 500, the Deloitte Wireless Fast 50, Deloitte Technology Fast 500, The Deloitte Technology Fast 50 for the states of Virginia and Maryland, and the Heavy Duty Trucking Nifty Fifty Award.
In 2008, Craig Malone was then appointed as the Senior Vice President of Product Development to replace Rhana, and Bernard Borghei was hired as Executive Vice President of Sales and Operations.
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