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03/22/2007

AeroScout Secures $21 Million in Series C Funding

 

AeroScout, Inc., the leading provider of Wi-Fi-based Active RFID solutions, recently announced it has secured $21 million in Series C funding led by Menlo Ventures. Both Menlo Ventures and Greylock Partners have joined the AeroScout investor syndicate in this round, and existing investors Star Ventures, Pitango, Cisco Systems and Intel Capital also participated.

AeroScout will use the funding to cement its leadership position, expanding its sales and marketing function in order to capitalize on its success within the key sectors of healthcare, manufacturing and logistics. It will also utilize the funds to expand its presence in growing international markets. In addition, the funds will support product development, continuing the company's track record for innovation.

Yuval Bar-Gil, CEO at AeroScout, commented: “We are delighted to gain the support of top tier investors such as Menlo Ventures and Greylock Partners. The Active RFID market continues to meet and exceed growth expectations, and AeroScout's established success and unique solutions make us well positioned to capitalize on this opportunity.”

Headquartered in San Mateo, CA, AeroScout develops complete Wi-Fi-based Active RFID solutions which enable companies in the healthcare, manufacturing and logistics industries to improve business processes through accurate, real-time asset tracking. With offices worldwide, AeroScout has more than 200 customers in North America, Europe, the Middle East, Asia, Australia and Latin America, including several Fortune 100 manufacturers and over 25 of the world's leading hospitals. The company sells through a channel of partners, including many of the world's leading technology providers.

”AeroScout has demonstrated proven success in several industries by aggressively pursuing a Wi-Fi-based approach to asset tracking, and building a world-class ecosystem of industry leading technology providers and partners to bring its products to market,” said Douglas Carlisle, Menlo Ventures. “This approach, combined with the strength of its market-leading solutions, convinced us of the long-term value of our investment.”

Yoram Snir at Greylock Partners also commented: “The Active RFID and RTLS sectors have shown tremendous growth due to their proven benefits for customers, and AeroScout is perfectly positioned to take advantage of this important market.”

AeroScout is the leader in Active RFID asset tracking and location solutions over standard Wi-Fi networks. Its enterprise visibility solutions accurately locate and monitor assets and people in both indoor and outdoor environments to improve business processes. The company has over 200 customers in the healthcare, manufacturing and logistics industries, including Boeing and more than 25 of the world's leading hospitals. Founded in 2000, AeroScout is headquartered in San Mateo with offices in Europe and Asia.

For more information, please visit www.aeroscout.com