24th November 2009 – Airetrak Closes funding round to support continued growth

Airetrak Closes funding round to support continued growth

PRESS RELEASE:
Airetrak, the leading UK provider of Wi-Fi based Real Time Location Systems (RTLS) to the Healthcare and Education sectors, today announced it has secured £260,000 in funding by a consortium of private investors. The financing will enable Airetrak to extend its product development program, increase its lead in the UK healthcare market and expand its reach to address other market opportunities.

Roger Willmott, CEO said: ‘As the adoption WiFi growing rapidly across many industry sectors, we are seeing an increasing demand for using the WiFi network to provide location capabilities to track key assets and resources. This investment in Airetrak will provide the business the ability to capture that demand and grow the business ...

The consortium of investors includes some big names in the location market. One of the investors, Sean Phelan, founded multimap.com in 1995. He built it into the most popular UK map location sites, with revenues of £12M and profits of £1M, and eventually sold it in December 2007 to Microsoft for £30 million. Sean brings substantial expertise to the Airetrak team in growing location based software companies.

About Airetrak
Airetrak’s solution, Resourceview, is installed in a large number of organisations across the UK. By using standard Wi-Fi infrastructure , ResourceView can provide effective indoor locations at a fraction of the cost. In hospitals, the solution is used to allow staff to locate key items of medical equipment, such as infusion pumps, beds and theatre trolleys. This allows them to realise genuine business benefits such as reduced operational cost and improved patient care.

For more information contact Airetrak at www.airetrak.com.