Location Tracking Device Company Raises $45 Million
- by Chuck Martin , July 29, 2019
Tile, the maker of small tracking devices, has raised $45 million in a Series C fundraising round.
The investments were led by Francisco Partners and included investments from previous investors GGV Capital and Bessemer Venture Partners as well as new investors Bryant Stibel and SVB Financial Group.
Tile has partnered with several brands including Bose, Skullcandy and Sennheiser as part of its embedded strategy.
“With Bluetooth technology projected to be included in nearly 30 billion devices shipping in the next five years, Tile is poised to deliver an embedded finding solution for a rapidly expanding market,” stated Andrew Kowal, partner with Francisco Partners.
The new funds are expected to be used for international growth, new product categories and enhancements to the Tile Premium service.
Do we not think a thief will detroy the tile or put it on another item?
Sad commentary that we can't keep track of our stuff without an APP.
Venture and PE investments seem to be increasingly “reaching” for new opportunities. Tells you what the consensus is of current public indices true value.
This one seems gimmcky, lacks creativity and common sense. Target mid America $3.88 Walmart crowd. Perfect for late night HSN or QVC.
Maybe they pump it, package it, and dump it, or just burn through the money and write off the loss.