Sunday, February 6, 2011

Loc-Aid Raises $13 Million for "Location-as-a-Service"

Loc-Aid, a start-up based in San Francisco and Miami, has raised $13 million in a Series C financing for its Location-as-a-Service (LaaS) model. Loc-Aid provides a location gateway that application developers can leverage to obtain precise geographic data on wireless devices. It aggregates data from major mobile operators, including AT&T, Verizon Wireless, Sprint and T-Mobile, as well as other carriers in Canada and Latin America. This enables location-based services for any application on any wireless device. For the carrier, Loc-Aid provides a source a revenue and an access path to developers. For developers, the platform provides an easier way to obtain opt-in location data than negotiating separate deals with each carrier and managing multiple APIs.

Loc-Aid said its LaaS is now location-enabling leading corporations in financial services, media, ecommerce, web-based services, transportation, entertainment, healthcare, and government services. Its mission is to provide a stable and reliable bridge between applications and location data without which the location services eco-system will not grow.

The company has processed over 300 hundred million location-based queries on behalf of its customers.

The latest funding round was led by private equity firms Hamilton Lane and H.I.G. Growth Partners and venture firm Intersouth Partners.

  • Loc-Aid is headed by Rip Gerber , who previously served as General Manager, Executive Vice President and Chief Marketing Officer for Nokia/Intellisync, a provider of platform-independent wireless messaging and mobile software.

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