GlobeRanger Inc., a Richardson, Texas–based provider of enterprise RFID edge solutions, has raised $8.3 million in Series C funding. Undisclosed new investors were joined by return backers Sevin Rosen Funds and CenterPoint Ventures. The company previously raised around $37 million.
GlobeRanger, the leading provider of enterprise RFID edge solutions announces the closing of its Series C funding. New investors were joined by current investors Sevin Rosen Funds and CenterPoint Ventures in the purchase of $8.3 million worth of Series C shares in the company. This round includes conversion into equity of some outstanding bridge loans from investors. The funding will be used to accelerate GlobeRanger’s product and business development activities, primarily around supply chain logistics solutions in the Government, Aerospace & Defense, and Industrial markets.
“We feel pleased and excited to receive this vote of confidence from our investors. Through the emergence and growth of this market, we have remained true to our vision of providing supply chain logistics solutions built on an industry-leading general sensor platform,” said George Brody, Founder, CEO and President at GlobeRanger. “Our focus on supply chain logistics has been rewarded by strong year-over-year growth and an expanding footprint that underlies some of the largest RFID deployments today. We remain committed to providing the most reliable, scalable and flexible enterprise edge software infrastructure and solutions at the lowest total cost of ownership for our end customers. Looking to the future, we remain very confident that we can continue to sustain the growth and momentum we have demonstrated to date.” With 40% growth in revenues in 2007 and 2008, and a CAGR of 79% over the last five years, GlobeRanger was recognized as the fifth fastest growing technology company in the Dallas/Fort Worth area by the Metropolitan Technology Business Council.
“GlobeRanger stands out in that its deployments have consistently delivered end-user value, and this factor speaks well for the company’s long-term prospects. Their ability to convert this emerging technology into business value is the reason behind our continued support for them,” said Jackie Kimzey, General Partner at Sevin Rosen Funds.
“GlobeRanger has remained steady in its vision of creating a robust ‘enterprise edge’ to unlock business value. The enterprise edge is going to be the new battleground for economic and competitive advantage and GlobeRanger leads the field in this area,” said Terry Rock, General Partner at Centerpoint Ventures. “By consistently coupling its vision and product focus with the realization of business value for its customers, GlobeRanger has been able to justify our continued investment.”
GlobeRanger is a leading global provider of end-to-end enterprise edge solutions and professional services to support RFID, mobility, and sensor-based solutions. Its innovative Edgeware™ platform, iMotion™, provides the critical infrastructure layer for managing devices, networks, data and processes at the edge of the enterprise, enabling real-time visibility and response. iMotion serves as the foundation for GlobeRanger and its partners to rapidly develop, deploy and manage edge solutions. Founded in 1999, GlobeRanger is headquartered in Richardson, Texas. For more information, visit www.globeranger.com.