RESTON, Va. and PALO ALTO, Calif., April 7, 2011 /PRNewswire/ -- RFID Global Solution, Inc., the leading provider of real time asset visibility solutions for the data center and enterprise asset tracking markets, announced it has closed $2.5 million in private equity and super angel funding. Led by WWC Capital of Reston, Virginia, with participation by all existing angel investors and the management team, the funds will be used for acceleration of product development and continued attraction of world class talent.
WWC Capital focuses on software, technology services and new media investments. Jonathan Wallace, Partner, WWC Capital, has joined RFID Global's Board of Directors. "At WWC, we invest in strong management teams and high growth businesses poised for significant, rapid expansion," said Jonathan Wallace. "RFID Global is a leading player in the RFID application software and solutions market, and at a critical inflection point in its growth trajectory. RFID Global is an exciting investment for us as they scale their business," Wallace added.
RFID Global's Visi-Trac™ software helps data center and operations managers locate and secure assets in real-time, optimizing inventory, asset management and assembly processes. It is the most advanced RFID asset tracking platform on the market, providing customers with up-to-the-minute information needed to make intelligent asset management decisions. Implementing Visi-Trac has resulted in up to 90% savings in inventory management costs, improved asset utilization, and reduced capital expenditures at a large national bank, leading aerospace manufacturer and a global telecommunications firm.
"In the past year, we have experienced very strong growth and customer acquisition, increased our partnerships with firms such as IBM, Imation, Motorola Solutions, nlyte Software and Zebra, and delivered significant new product capability," said Diana Hage, president and CEO, RFID Global Solution. "I am very pleased to have a leading private equity firm such as WWC join our team and look forward to a very collaborative working relationship."
About RFID Global Solution, Inc.
RFID Global Solution is the leading provider of real time asset visibility solutions for the Data Center and Enterprise asset tracking markets. Visi-Trac™, our flagship software platform, provides complete visibility of assets throughout the total asset lifecycle, using active and passive RFID and sensor technologies. For more information, visit www.rfidgs.com or call (866) RFID-123 (734-3123). RFID Global is based in Reston, VA and Palo Alto, CA.
About WWC Capital
WWC Capital is an investment banking and private equity firm dedicated to serving middle market companies in need of capital or advisory services. WWC has deep experience in the technology, government services and new media sectors. Our professionals have extensive advisory and transaction experience in operating companies, investment banks and professional services firms. WWC principals have completed over 325 transactions totaling over $15 billion in value. WWC Capital is based in Reston, Virginia.
RFID Global Solution
SOURCE RFID Global Solution, Inc.