Loc-Aid Locates $13M
San Francisco-based Loc-Aid, which helps enable location-based services and transactions on mobile devices using gateway software that mediates between wireless carrier infrastructures and application developers, has collected $13 million in new funding, according to a regulatory filing. The filing doesn’t name the investors in the round, but lists partners from Intersouth Partners in North Carolina, H.I.G. Ventures in Florida, and Bain Capital Ventures in Boston as directors. [Update, 9:45 a.m. PT, 2/4/11: In an announcement set to be released on February 7, Loc-Aid says the investors in the round were H.I.G. Ventures, Intersouth Partners, and the Florida Growth Fund, managed by Hamilton Lane. The company says the new 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, and check-in services and more.”]
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