Airetrak recently announced it has secured funding of ?260,000 through a consortium of private investors. The funding will enable Airetrak to further expand the company's product development programme, increase its penetration of the UK healthcare market and exploit other marketplace opportunities.
Roger Willmott, CEO said: "As more industries adopt Wi-Fi, we are seeing an increasing demand by companies to use their Wi-Fi network as a tool to track key assets and resources. This substantial investment in Airetrak will provide the company with the resources to enable us to fulfil the growing requirement by a wide range of companies to utilise the location capabilities supplied by RTLS technology."
Airetrak's consortium of investors includes some big names in the location market including Sean Phelan, the founder of multimap.com. After establishing the company in 1995, he built multimap.com into the most popular UK map location site, with revenues of ?12M and profits of ?1M. Sean eventually sold multimap.com to Microsoft for ?30 million in December 2007. Sean brings to the Airetrak team his expertise in growing location based software companies.
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