A homegrown Triangle software company once under Ford Motor Co.’s umbrella has a new leader.
Chip Schuneman is joining TransLoc of Durham as its new general manager, where he hopes to scale it to the next level.
Schuneman comes to TransLoc just over two years after Toronto-based Modaxo, the people transport unit of Constellation, acquired it from Ford.
TransLoc, headquartered in Durham, had made a name for itself, its technology supporting more than 1,500 transport providers across the nation under the automobile maker's umbrella. In its first 10 years, TransLoc had created what it described as America’s first live regional transit map and the first bus tracking mobile app. And it had been awarded a transit innovation award by the White House.
But Ford’s bread and butter was automobiles.
Modaxo lives and breathes transportation software.
Schuneman said Modaxo is well on its way toward its goal of moving more than a billion people around the globe — and that TransLoc will be part of the story.
Schuneman is based in Georgia, though he’ll spend plenty of time in Durham, where he once worked with Motricity through MAI Associates. Schuneman has a 25-year history of leading software and technology-driven businesses.
“I think the skillset I’ve developed… has just been the ability to build and scale businesses consistently,” he said.
Modaxo’s expectation for its brands is 10 percent organic growth each year. And he hopes to deliver on that now that TransLoc is nearly fully transitioned into the portfolio.
Modaxo’s modus operandi is buying businesses, then holding and optimizing them — not flipping them a few years down the line. The goal is to invest in the business, and Schuneman anticipates growth. TransLoc has 60 employees, about 30 percent of which live in Durham.
TransLoc, prior to its buyout by Ford, was led by Durham entrepreneur Doug Kaufman. The exit gave several local investors a boost, such as SJF Ventures and Patient Capital Collaborative, an impact fund affiliated with Investors’ Circle in Durham.