New Funding Fuels RedSky Technologies' Location-Based Services Product
Development
Automated Location Information Products to help Service Providers
CHICAGO, March 4 /PRNewswire/ -- RedSky Technologies, Inc., the leading
provider of location information management and E911 software to the
enterprise market, announced today that it completed a new round of funding
from its current investors, CID Capital and Dunrath Capital.
"This latest investment will accelerate efforts to leverage RedSky's
expertise in location information to bring to market products that enable
location-based services," said Tony Maier, CEO of RedSky. "Our investors'
ongoing commitment to the company's operational plan, product development and
channel expansion has been a key driver in RedSky's growth."
RedSky currently markets enterprise E911 software including E911
Manager(TM) and E911 Anywhere(TM) that works with IP-based and traditional PBX
telephone systems from providers such as Avaya, Cisco and Nortel to capture,
manage and deliver the location of 911 callers to emergency dispatchers. The
Company also is taking 911 knowledge and capabilities to the service provider
market.
"What is impressive to us is RedSky's success in building the dominant
brand in the enterprise market while simultaneously moving forward
aggressively with product development, taking the Company into larger,
lucrative location-based services markets," said John Abernethy, Managing
Director of Dunrath Capital.
"RedSky has successfully established itself as a leader in the enterprise
software market, and we are impressed with the company's ability to execute
key facets of the business," said Raj Pai, Managing Director of CID Capital.
"As a software company, RedSky is clicking on all cylinders."
About RedSky
Headquartered in Chicago, IL, RedSky Technologies
(http://www.redskye911.com) is the leading provider of software to automate
E911 for large enterprises, government agencies and educational institutions.
With more than 50 Fortune 500(R) customers and more than 300 total customers,
RedSky products track the locations of telephone users as they move inside and
outside the enterprise, providing critical location information in the event
of a 911 call.
About CID Capital
Since its founding in 1981, CID Capital (http://www.cidequity.com) has
been a leading provider of equity capital to private companies headquartered
throughout the United States. It has invested in over 100 companies and in
each investment has partnered with high-caliber, successful entrepreneurs and
business owners. In the role of investment partner, CID Capital's investment
professionals work actively alongside management and other shareholders to
deliver superior investment returns. CID Capital currently manages more than
$490 million in two distinct forms of investment capital: venture capital and
private equity.
About Dunrath Capital
Dunrath Capital (http://www.dunrath.com) is a research-based private
equity and strategic advisory firm. Headquartered in Chicago, the Dunrath team
has extensive operating and investment experience in the sectors in which they
invest and advise. The current principal investment fund, Dunrath Capital
Infrastructure Surety Fund, LP, invests in early and growth-stage companies
delivering infrastructure surety products and services. Infrastructure surety
is defined as those products and services that identify, protect, or defend
against threats to modern infrastructures.
SOURCE RedSky Technologies, Inc.
Dave Wallinga of RedSky, +1-312-829-8383, ext. 26, media@redskytech.com
