With a $250,000 loan awarded from the Iowa Economic Development Authority last week, Coralville, Iowa-based Green Team Technologies is looking to expand the national footprint of its Fuse5 product.
“We see explosive growth over the next 6 to 12 months,” said John Bunting, COO of Green Team Technologies. Based on new clients, he said, the company expects a “tenfold” increase in sales.
Fuse5 is point-of-sale software for the automotive aftermarket industry, which provides and installs parts and accessories after the original sale of the car. Bunting said that a typical client has between 20,000 and hundreds of thousands of parts in their inventory to manage. Fuse5 integrates with QuickBooks to manage accounting and can help predict future sales for ordering purposes.
Compared with competitors, such as Epicor and Autology, Bunting said Fuse5 is unique because it uses a cloud-based system.
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“The automotive aftermarket was hungry for a solution,” Bunting said, comparing Fuse5’s offering to what he called outdated server systems.
CEO Gabe Davis founded the company 5 years ago. Bunting (left) said he was reluctant to comment on the number of employees or customers Fuse5 has, though he did say that Fuse5 is currently used in 20 states coast to coast. The company has a full-time programming team and recently doubled the size of its customer service staff.
“We’re really aggressive, and we’re really, really focused on customer service,” Bunting said.
The loan came from the Iowa Innovation Acceleration Fund, a loan program that supports technology startups at different stages of growth. It will be used to hire additional staff and increase marketing efforts.
The company had previously received a $150,000 award from the state, and has taken angel investment.
Green Team Technologies is focusing on expanding its presence in the automotive aftermarket industry, but Bunting sees the software as a scalable product that can expand to other verticals.
Credits: Photo of Bunting from LinkedIn.
