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LOC-AID Secures $13M Series C Round from Private Equity and Venture Investors

BOCA RATON, Fla. Feb. 7, 2011 $13 million

http://photos.prnewswire.com/prnh/20101029/AQ91370LOGO

LOC-AID achieved record results in 2010 and secured commercial connections with all of the largest North American wireless carriers.  Led by President and CEO Rip Gerber, LOC-AID has built a proprietary location platform that allows mobile developers to enable any location-based service for any application on any wireless device.

This round of funding will expand LOC-AID’s industry-changing location technology and bolster its ability to connect enterprise developers to wireless customers for a wide range of location-based services including fraud prevention, proximity marketing, asset management, presence, check-in services, and more.

"We took the long-awaited promise of network-based location and made it available to the enterprise developer community," said Rip Gerber, President and CEO of LOC-AID.  "Last year our platform was adopted by the largest wireless carriers, including AT&T, Verizon Wireless, Sprint, and T-Mobile.  Today we are location-enabling leading corporations in financial services, media, ecommerce, web-based services, transportation, entertainment, healthcare, and government services.  We’re excited to have the Florida Growth Fund join as an investor."

Gregory Baty

John Glushik

Significant achievements by LOC-AID in the past year:

  • the United States Canada North America
  • the United States Canada Mexico
  • Led the industry in location look-ups for third-party application developers.
  • Recognized as the only pure-play "Location-as-a-Service" company in the mobile ecosystem by wireless analysts and media.
  • Recognized by the CTIA as the "best-in-class" for mobile location privacy management, developer opt-in guidelines, and permission-based location enablement.
  • First and only "Location-as-a-Service" provider announced by Verizon Wireless.
  • First and only "Location-as-Service" provider announced by AT&T.
  • First and only "Location-as-a-Service" provider launch on Microsoft’s developer zone.

LOC-AID can provide real-time, mobile location information to any mobile device, allowing enterprises and mobile users to take advantage of location-based services. The company’s rapidly-expanding customer base comprises leading organizations in the financial services, retail, healthcare, machine-2-machine (M2M), education, ecommerce, entertainment, and hospitality industries.

About LOC-AID Technologies

America Movil www.loc-aid.com

About H.I.G. Ventures

$550 million North America $8.5 billion Atlanta Boston Miami New York San Francisco www.higventures.com

About Intersouth Partners

Durham, North Carolina $780 million www.intersouth.com

About the Florida Growth Fund

$250 million Florida Florida www.floridagrowthfund.com

About Hamilton Lane

London Tel Aviv Tokyo Singapore Hong Kong

$107 billion $15 billion $49 billion Western Europe Asia Pacific

About the SBA

Florida

The SBA currently invests in eight asset classes: Domestic Equities, Foreign Equities, Fixed Income, High Yield, Private Equity, Strategic Investments, Real Estate and Cash.

SOURCE LOC-AID Technologies, Inc.

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