Rosum Raises Additional Funding, Attracts TruePosition
April 16, 2008Rosum Corp. has raised $15 million in new financing, and added TruePosition to its list of investors.
Rosum's technology uses terrestrial television signals — whether analog, digital, or mobile — to provide accurate in-home location information, where GPS signals may be hindered, according to the company. Broadband service delivery provider 2Wire recently announced that it would use the technology in its femtocell products.
"Rosum's TV-positioning solution is well aligned with our vision of delivering always-available location-based services, indoors and out, with the best technology available," said Stephen Stuut, TruePosition CEO. "We are pleased to join the Rosum board of directors."
Existing investors Charles River Ventures, Allegis Capital, Steamboat Ventures, and KTB Ventures joined TruePosition, a subsidiary of Liberty Media Corp., in this round of financing for Rosum.
"In the past seven months, we have secured partnerships with Intel Corp. and 2Wire Inc. This new financing will enable us to accelerate our expansion into the mobile TV and femtocell markets and to capture emerging global opportunities for our solution," said Skip Speaks, Rosum CEO. "We are grateful for the ongoing support from our current investors and we are excited to add TruePosition, a market leader in the field of location technology, as a strategic investor."
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