LOC-AID Reels In $13M Round from Intersouth, Florida Growth Fund

BOCA RATON - LOC-AID, a location-as-a-service company that connects mobile enterprise to wireless subscribers, announced today it has secured $13 million in a Series C financing round to support the company's rapid growth. The round was led by private equity firm H.I.G. Ventures, venture firm Intersouth Partners, and the Florida Growth Fund, managed by Hamilton Lane.

LOC-AID achieved record results in 2010 and secured commercial connections with all of the largest North American wireless carriers. Led by President and CEO Rip Gerber, LOC-AID has built a proprietary location platform that allows mobile developers to enable any location-based service for any application on any wireless device.

This round of funding will expand LOC-AID's industry-changing location technology and bolster its ability to connect enterprise developers to wireless customers for a wide range of location-based services including fraud prevention, proximity marketing, asset management, presence, check-in services, and more.

"We took the long-awaited promise of network-based location and made it available to the enterprise developer community," said Rip Gerber, President and CEO of LOC-AID. "Last year our platform was adopted by the largest wireless carriers, including AT&T, Verizon Wireless, Sprint, and T-Mobile. Today we are location-enabling leading corporations in financial services, media, ecommerce, web-based services, transportation, entertainment, healthcare, and government services. We're excited to have the Florida Growth Fund join as an investor."

LOC-AID simplifies and manages the complex challenge of locating over 350 million mobile devices for location-based services. LOC-AID operates the world's largest and most secure mobile location platform and allows mobile developers to locate their customers for enterprise authentication, fraud management, and hyper-local marketing, all through a single, privacy protected API.