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AirSage Closes $2.5M Financing Round
March 31st, 2009 No comments
Funding Will Be Used to Expand Sales Efforts and Enhance Product Pipeline
ATLANTA AirSage, the world leader in patented technology which turns real-time cell phone signals into meaningful location, movement and traffic data, announced it has recently closed a $2.5 million financing round. The majority of investors for this round were angel investors from Switzerland and the United States.
The company will use this investment round to expand its sales efforts which recently garnered Google Maps as AirSage’s latest client. The funding will also help to build out the existing product pipeline as the company continues to develop more traffic applications and create offerings for the broader location-based services (LBS) market.
“This funding round is proof positive that we have the right solutions and a compelling vision for how to help companies realize the benefits of location-based services,” said Cy Smith, CEO of AirSage, Inc. “Now that we have further solidified our financial position, we can free ourselves to focus on generating additional revenue streams and building out our next-generation LBS product suite.”
AirSage collects and analyzes wireless carrier cell phone data signals to produce more than three billion anonymous locations of people every day. These data feeds are available for use in a variety of applications including predictive analytics, travel-time estimates and even as a raw data source to help model and forecast the location, movement and flow of people.
About AirSage, Inc.
Atlanta-based AirSage is the leading provider of location, movement and real-time traffic information based on cellular signaling data. AirSage’s WiSE™ product lines are all based on anonymous data derived from wireless carrier signaling data. WiSE Traffic covers more than 200,000 miles of the nation’s roads and highways, including arterial roads. WiSE Location provides more than three billion individual location positions each day and WiSE Movement coordinates these locations into individual anonymous movement patterns. AirSage’s WiSE Technology platform provides unprecedented visibility into how, when and where people travel throughout the day. For more information please visit www.airsage.com.
Google and Google Maps are trademarks of Google Inc. (NASDAQ: GOOG – News)
Source: AirSage
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