By Allan Maurer
CARY, NC – Securus Inc., a company selling GPS-based products for safety and security applications, has nabbed an investment from Florida-based Naples Ventures in an undisclosed amount.
Securus has created a unique GPS-based technology platform, “GPS as a Service” to deliver, along with its market partners, fully featured and customized safety and security solutions designed specifically for each vertical market.
CEO and chair Chris Newton tells us that the company, which currently employs six fulltime and three partime people will be doing some hiring, primarily in sales and implementation after wrapping up some “Block and tackle work.”
The new verticals will include areas such as primary care, he says.
Securus has launched a product for the pet market in partnership with American Kennel Club Companion Animal Recovery (www.SpotLightgps.com) and says it will announce new products and partnerships for additional markets in the coming months. The Spotlight product lets pet owners know when an animal crosses a boundry area and helps them track it if it wanders off.
The same system can track a child or someone needing special care. “A parent can know when their child leaves the house, gets on a school bus, and arrives, ” explains Newton.
We reported on the animal recovery product previously. See: PAW GPS locator helps find pets. The company changed its name to Securus about a month and half ago to reflect its new broader direction, says Newton.
Naples Ventures is a boutique investment firm that invests in and buys companies, typically focusing on consumer oriented businesses. Its investments included Bill Me Later, which was acquired by eBay.
Naples Ventures’ investment model is to hold only four active investments in its portfolio at any given time. Since EBay’s acquisition of portfolio company Bill Me Later in 2008, Naples Ventures has been seeking its fourth active investment. Securus has filled this spot and Bob DiRomualdo has joined Securus’ Board of Directors.
Bob DiRomualdo, founder and CEO of Naples Ventures, said, “We believe that the use of specialized GPS services for safety and security applications will explode over the years. Securus has a winning technical and business strategy, has market traction in a number of verticals, and has an excellent team. We believe that the success of the company and the potential for growth is remarkable.”
DiRomualdo was the Chairman and CEO of Borders Group (NYSE: BGP).
The company’s investment round is still open, so it is unable to disclose the amount of the investment. We’ll keep an eye on the SEC filings and let you know the amount when it shows up.
To contact TechJournal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
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Tags: Cary, financing, FL, Naples, Naples Ventures, NC, Securus
