A Medical Device Daily
Awarepoint (San Diego), a provider of real-time location systems (RTLSs), reported that it has raised $13.3 million in a Series D round of venture capital financing led by Cardinal Partners and joined by Venrock and existing investor Avalon Ventures.
The company said the funds will be used as expansion to take advantage of the demand for RTLS in both domestic and international markets and to fuel Awarepoint's growth.
According to the company, the Awarepoint Solution offers location, status and movement visibility of both equipment and people, allowing for real-time remote monitoring of critical resources.
Awarepoint's RTLS Active Radio Frequency Identification (RFID) platform includes a patented plug-in sensor mesh network, application software, firmware, connectivity bridges, and multipurpose resource tags.
As a result of this financing round, Brandon Hull, managing partner at Cardinal Partners, and Brian Ascher, general partner at Venrock, will join Awarepoint's board.