Networks In Motion Secures $5 Million

Oct 29, 2004


      Bookmark and Share

BEST PRACTICES SERIES

Networks In Motion, a wireless software solutions provider for mobile workforce management and location-based services (LBS), has announced the completion of an institutional round of venture capital funding of $5 million from Redpoint Ventures and Mission Ventures. The funds will be used to grow the company around its core personnel to establish a worldwide reach in delivering LBS applications. This includes continuing to expand operations and professional staffing. Networks In Motion management will work closely with Redpoint Ventures and Mission Ventures firms, both with funding and also partnering to build an extended team.

Networks In Motion's technology combines mobility, navigation, and the Internet to provide services and software for the development, integration, and deployment of LBS and telematics similar to in-car navigation. The company's AtlasBook and Family Finder product portfolio features include real-time turn-by-turn directions, full-color, maps of the user's location, the ability to locate a family member on a phone, and Yellow Pages to search for places nearby. The company's commercial product, AtlasTrack, is designed to allow managers to monitor their mobile workforce and report on the mobile efficiency of their business.
(www.networksinmotion.com)