Awarepoint Real-time Awareness Solutions(R) Obtains Expansion Capital Investment from Leading Venture Firms
$10 Million Financing Led by JAFCO Ventures will Accelerate Adoption of Company's Real-time Networked Awareness Solutions, including RTLS applications, for U.S. Hospitals
SAN DIEGO, March 1 /PRNewswire/ -- Awarepoint Corporation, a key market leader of real-time location systems (RTLS) for U.S. hospitals, today announced it has raised $10 million of expansion capital led by JAFCO Ventures, and joined by existing investors, Cardinal Partners and Venrock Associates.
Awarepoint Corporation offers location, status, condition and movement visibility of both equipment and people, allowing for real-time remote monitoring of critical resources in hospitals. Awarepoint's networked Real-time Awareness Solutions include its patented ZigBee wireless mesh network, application software, firmware, connectivity bridges and multipurpose tag form factors to support asset and people tracking and condition-sensing applications (e.g., temperature monitoring and autoclave cycles). Awarepoint's products remain unparalleled in terms of successfully addressing the five factors critical to success: enterprise-wide coverage, location accuracy, minimally invasive installation with low maintenance requirements, interoperability and a low-risk business model.
JAFCO Ventures observed Awarepoint's extraordinary growth and the market opportunity for location and condition-sensing applications in healthcare. JAFCO's general partner, Tom Mawhinney, determined the Company was a fit with the fund's charter to invest in opportunities with true breakout potential. To that end, he said, "We are very excited to be a part of the Awarepoint team. Awarepoint's dramatic growth, seasoned management team and focus on customer success make it truly unique in the RTLS market. We look forward to supporting the company's continued growth and market leadership in creating an outstanding company for the long haul."
"The addition of JAFCO Ventures as an investment partner is further endorsement of the healthcare markets' focus on the real-time enterprise," said Jason Howe, CEO of Awarepoint. "With our RTLS applications, business model and game-changing technology, we have proven to meet customers' evolving requirements both today and as part of their future strategic direction."
The capital infusion will be used to accelerate Awarepoint's development of new technology, products and client success capabilities. As part of the financing, Mr. Mawhinney of JAFCO Ventures will take a seat on Awarepoint's Board of Directors.
Awarepoint's Real-time Awareness Solutions include Awarenet™, its networked awareness platform, firmware, Real-time Location System (RTLS) applications and an open application programming interface (API) for use with partner applications. Requiring no hard wiring, Awarepoint's ZigBee wireless mesh network is a fully managed service, including hardware, software, remote monitoring and maintenance. The company is headquartered in San Diego, California and serves hospitals across the United States through a distribution partnership with Skytron, a nationally recognized medical equipment sales and distribution company. Track us down at www.awarepoint.com, and visit www.theawarepointblog.com to join us in conversation as we explore how RTLS is evolving beyond "location" to Real-time Awareness Solutions that take into consideration all of the factors that matter to hospital administrators and patients alike.
About JAFCO Ventures
Based in Palo Alto, California, JAFCO Ventures is a venture capital partnership focused on companies that are emerging leaders in the communications, Internet, semiconductor and software industries. JAFCO Ventures was formed in 2003 and currently manages more than $450 million in capital. The fund's charter is to invest in venture opportunities with true breakout potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development team, to help portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit http://www.jafco.com/.
ZigBee: Control your World
ZigBee is the global wireless language connecting dramatically different devices to work together and enhance everyday life. The ZigBee Alliance is a non-profit association of more than 300 member companies driving development of ZigBee wireless technology. The Alliance promotes world-wide adoption of ZigBee as the leading wirelessly networked, sensing and control standard for use in consumer electronics, energy, home, commercial and industrial areas. For more information, visit: www.zigbee.org/.
SOURCE Awarepoint Corporation
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