San Diego’s Awarepoint Raises $27M in Series F—As in Final—Venture Round
San Diego-based Awarepoint, which has developed real-time tracking technology for the healthcare industry, says today it has raised $27 million in a Series F round of financing led by Silicon Valley’s Kleiner Perkins Caufield & Byers.
The company says a new investor, San Francisco’s Top Tier Capital Partners, joined in the round, along with existing investors Cardinal Partners, Venrock, and Jafco Ventures. The company has previously raised at least $57 million in a combination of equity and debt financings that included San Diego’s Avalon Ventures and Silicon Valley Bank.
Awarepoint plans to use the proceeds to expand its business and drive adoption of what it calls its aware360°Platform, which combines the company’s wireless mesh sensor network technology with software acquired earlier this year with the purchase of Charlotte, NC-based Patient Care Technology Systems.
As I explained in June, Awarepoint CEO Jay Deady intended to use Patient Care’s technology to broaden Awarepoint’s software portfolio, making the company more of a full-service provider of health IT products and services with Patient Care’s portfolio of software technologies. Deady also told me at that time that he was working to close what he expected would be the company’s final round of venture capital
In the statement released today, KPCB partner Dana Mead says, “Awarepoint delivers innovative technology and software solutions to healthcare providers enabling them to uniquely address escalating costs and compliance challenges.”