S5 Wireless Secures $11.5 Million in Series B Financing
Draper, UT– Sept. 14, 2006 –S5 Wireless, a leading provider of next-generation wireless location technologies, today announced that it has raised $11.5 million in a series B financing round. Craig McCaw’s investment company, Eagle River Holdings, led the round, with existing investor vSpring Capital and Wasatch Venture Fund also participating.
The funding will accelerate S5 Wireless’ industry leadership in providing wireless communications technology for tracking and monitoring. The company continues to build its track record across a variety of industries, including E-911 location for Voice over Internet Protocol (VoIP) services, companion animals/pets, homeland security, medical devices, shipping containers, telecommunications, tools, and others.
“This round of funding further establishes S5’s unique position in the marketplace and recognizes our ground-breaking technology as the leading-edge solution for wireless location and telemetry,” said David Carter, CEO of S5 Wireless. “Our solution removes barriers that have hindered wireless location adoption.”
S5 offers a truly disruptive technology by providing an extremely low-cost and low power consumption embeddable semiconductor that enables location accuracy similar to GPS indoors/outdoors without using GPS. The combination of long-range, low-cost, and low-power consumption enables S5’s technology to meet the needs of a variety of underserved markets.
About S5 Wireless
Founded in 2003, S5 Wireless, Inc. is an innovator and leading provider of wireless wide area location and telemetry technology. S5 provides customers the ability to dramatically improve the dynamics and economics of their location and telemetry applications, enabling markets that are not currently served. S5 is partnering with industry-leading companies to bring this unique extremely long-range, low-cost and long battery life technology to market. For more information, please visit www.s5w.com.
About Eagle River Holdings, LLC
Eagle River Holdings, LLC is part of a group of closely held investment companies formed by Craig McCaw, beginning in 1993. Eagle River invests primarily in telecommunications and technology companies. The group’s past investments have included AboveNet, Clearwire Corporation, ICO Global Communications, Nextel, Nextel Partners, RadioFrame Networks, Tello, WorldWide Packets, among others.
About vSpring Capital
vSpring Capital (www.vspring.com) is an early-stage venture capital fund focusing on investment opportunities in Information Technology and Life Sciences. vSpring capitalizes on the managerial skills and operating experience of its principals to successfully invest in and mentor early-stage companies. vSpring has offices in Salt Lake City, Utah and Los Alamos, New Mexico.
About Wasatch Venture Fund
Wasatch Venture Fund was formed in 1994 and is a leading venture capital firm in the Southwest region. Wasatch invests in early-stage technology companies and manages four funds with over $150 million in capital under management. Since its inception, Wasatch has completed 16 successful exits including 3 IPOs and 13 acquisitions. Headquartered in Salt Lake City, Utah, Wasatch also maintains offices in Santa Fe, New Mexico and Phoenix, Arizona. Wasatch was founded by Zions Bancorporation and is an affiliate fund of Draper Fisher Jurveston.