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