When was Progress Rail founded?

Progress Rail was founded in 1982 and raised its 1st funding round 28 years after it was founded.

Where is Progress Rail located?

Progress Rail is headquartered in Albertville, United States. It is registered at 800, Meridian Commercial Tower 8th Floor, Windsor Place, Central Delhi, Delhi, Delhi, India, 110001.

Who is the current CEO of Progress Rail?

Martin Haycraft of Progress Rail.

How many employees does Progress Rail have?

As of Sep 30, 2026, the latest employee count at Progress Rail is 4897.

Is Progress Rail a funded company?

Progress Rail is a funded company, having raised a total of $***** in its 1st and only funding round, a Grant (prize money) round on Sep 28, 2010.

When was the latest funding round of Progress Rail?

Progress Rail's latest funding was a $***** Grant (prize money) round on Sep 28, 2010, with participation from 1 investor.

Where does Progress Rail rank among its competitors?

Progress Rail ranks 3rd amongst 310 active competitors, of which 38 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was Elevat, which secured $12M in Jan, 2026.

Who are the top competitors of Progress Rail?

Progress Rail's top competitors include Positioning Universal, Elevat and MoBagel. Among them, Elevat secured the most recent funding round in January, 2026.

Progress Rail - 2026 Company Profile, Team, Funding & Competitors

Q: Is Progress Rail an acquired company?

Progress Rail got acquired by Caterpillar on May 16, 2006.

Progress Rail is an acquired company based in Albertville (United States), founded in 1982. It operates as a Manufacturer of locomotives freight cars trackwork components and signaling systems. Progress Rail has raised an undisclosed amount in funding. The company has 310 active competitors, including 38 funded and 20 that have exited. Its top competitors include companies like Positioning Universal, Elevat and MoBagel.

Company Details

Manufacturer of locomotives freight cars trackwork components and signaling systems. Industrial activities include engineering and maintaining rail infrastructure hardware along with rolling stock equipment. Operations encompass locomotive remanufacturing and railcar repair services. Digital monitoring tools and telematics systems are deployed to manage fleet performance and infrastructure health for rail operators. These hardware and software products integrate into enterprise management systems to support railway logistics and operational safety.

Website: www.progressrail.com
Social
Email ID: *****@progressrail.com
Phone Number: +1 **********
Registered Address: 800, Meridian Commercial Tower 8th Floor, Windsor Place, Central Delhi, Delhi, Delhi, India, 110001

Key Metrics

Founded Year

1982

Location

Albertville, United States

Stage

Acquired

Latest Funding Round

Grant (prize money), Sep 28, 2010, $*****

Investors

One Equity Partners & 1 more

Ranked

3^rd among 310 active competitors

Employee Count

4,897 as on Sep 30, 2026

Investment & Acquisitions

Nitryx & 7 more

Similar Companies

Positioning Universal & 403 more

Exit Details

Acquired by Caterpillar (May 16, 2006)

View Progress Rail's full profile

Progress Rail is associated with 3 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count
Progressive Management Corporation s.r.o. CIN: 27151671 , Czech Republic, Active	May 19, 2004	-	-
RAIL ASSISTANCE s.r.o. CIN: 04854632 , Czech Republic, Active	Feb 29, 2016	-	-
PROGRESS RAIL INNOVATIONS PRIVATE LIMITED CIN: U35201DL1996PTC083567 , India, Active	Dec 02, 1996	₹50 - ₹100 Cr (As on Mar 31, 2025)	-

Progress Rail got acquired by Caterpillar on May 16, 2006 at an acquisition amount of $*****.

Click here to take a look at Progress Rail's acquisition in detail

Progress Rail has raised funding over 1 round. Its latest funding round was a Grant (prize money) round on Sep 28, 2010 for $*****. 1 investor participated in its latest round. Progress Rail has 2 institutional investors.

Here is the list of recent funding rounds of Progress Rail:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Sep 28, 2010	7370494	Grant (prize money)	6833531	1766941	4211194	1926356

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Progress Rail's employee count trend

Progress Rail has 4,897 employees as of Sep 26. Here is Progress Rail's employee count trend over the years:

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Top competitors of Progress Rail include Positioning Universal, Elevat and MoBagel. Here is the list of Top 10 competitors of Progress Rail, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Positioning Universal 2013, San Diego (United States), Seed	Provider of IoT based asset tracking solutions	$1.54M	-	54/100
2nd	Elevat 2015, Seattle (United States), Series B	Cloud-based IoT platform for managing connected assets	$25M	Gaingels, D4 Investments	53/100
3rd	Progress Rail 1982, Albertville (United States), Acquired	Manufacturer of locomotives freight cars trackwork components and signaling systems	-	One Equity Partners, U.S. Department of Transportation ... Read more	51/100
4th	MoBagel 2009, Mountain View (United States), Series A	Developer of artificial intelligence solutions for business workflow automation	$5.16M	Singtel Innov8, 500 Global & 9 others	47/100
5th	Amplified Industries 2019, Somerville (United States), Series B	AI-driven platform offering solutions for the optimization of oilfield assets	$21.1M	Schooner Capital, CEAS Investments	44/100
6th	Veros Systems 2001, Austin (United States), Acquired	Provides machine-learning based asset monitoring software solution	$19.6M	Shell Ventures, LiveOak Venture Partners & 7 others	44/100
7th	Bsquare 1994, Bellevue (United States), Acquired	Device management solution stack for Industrial IoT applications	-	TA Associates, Norwest & 1 others	42/100
8th	Raven Telemetry 2013, Ottawa (Canada), Series A	Cloud-based platform for assets monitoring	$18.6M	Ramen Ventures, Chartline Capital Partners ... & 15 others	42/100
9th	AssetMinder 2012, Chesterfield (United Kingdom), Acquired	Provider of an IoT-based asset management application	-	-	42/100
10th	3d Signals 2015, Kfar Saba (Israel), Series A	Provider of equipment monitoring solutions	$23.5M	State of Mind Ventures, Grove Ventures & 7 others	42/100

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Progress Rail has not made any investments yet. Progress Rail has made 8 acquisitions.

Here is the list of latest three $acquisitions:

Date of Investment/Acquisition	Type	Company Name	Founded Year	Location
May 17, 2021	Acquisition	Nitryx	2011	Sao Paulo (Brazil)
Oct 30, 2019	Acquisition	Cleveland Track	1982	Cleveland (United States)
Jan 02, 2018	Acquisition	ECM	1958	Serravalle Pistoiese (Italy)