LOC-AID Raised $13M Series C for Location Aggregation

LOC-AID Raised $13M Series C for Location Aggregation
North American cross carrier location aggregator LOC-AID today announced a $13M Series C round of funding led by private equity firm H.I.G. Ventures, venture firm Intersouth Partners, and the Florida Growth Fund.

LOC-AID location gateway is connected to most of the largest carriers in the Americas, including AT&T, Verizon Wireless, T-Mobile, Sprint, America Movil, TelCel, Bell Mobility and TELUS.

LOC-AID key competitor is Location Labs which also has partnerships with the top 4 U.S. operators.

"We believe LOC-AID has unlocked the value of location-based services for the enterprise by expanding the reach of location-based services to ALL mobile devices, not just smartphones or devices with GPS technology that require an application to be downloaded to allow for the device to be tracked," said Gregory Baty, Vice President of Hamilton Lane, who manages investments made by the Florida Growth Fund.

In July 2010 LOC-AID CEO Rip Gerber explained the strategy of his company in a comprehensive interview with GPS Business News (read here).

Monday, February 7th 2011

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