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LOC-AID Raises $13 Million For Location-Based Services Platform

February 4th, 2011 02:45 admin Leave a comment Go to comments

LOC-AID Technologies, provider of a location-enabling mobile transaction platform, has raised $13 million in funding according to an SEC filing. The company is backed by Intersouth Partners and H.I.G. Ventures (Bain Capital Ventures managing director Jeffrey Glass is also on the board).

LOC-AID operates what it says is the world’s largest mobile location data gateway, essentially a location aggregation platform for carriers. The platform is designed to help wireless operators such as AT&T, Sprint and Verizon deliver location-aware content to their customers faster.

To clarify, LOC-AID is an LBS aggregator that integrates deep within those carrier’s infrastructures and processing systems. The company does not operate any location-based service applications, and as such is more of an enabler.

LOC-AID recently announced that it had surpassed the 300 million mark for mobile device access. The company is led by CEO Robert ‘Rip’ Gerber, previously GM, Executive Vice President and Chief Marketing Officer for Nokia/Intellisync, a provider of platform-independent wireless messaging and mobile software. He also writes novels.

Source: LOC-AID Raises $13 Million For Location-Based Services Platform

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