“Cartasite has established itself as one of the leaders in the emerging Industrial Internet of Things marketplace, delivering practical solutions that address operational efficiency, safety, and security." - Andreas Hildebrand, Bison Capital
(PRWEB) February 23, 2016
Cartasite, a leading provider of wireless sensing technologies that help businesses proactively adapt to change, announced today that it has received a significant growth equity investment from Bison Capital. Cartasite has grown over 300% in the past several years and the new capital will be used to fund further expansion of the company’s platform of telemetry and IoT (Internet of Things) services. The investment will allow Cartasite to accelerate product development and significantly expand its sales and marketing resources.
Andreas Hildebrand, a Partner at Bison Capital, noted, “Cartasite has established itself as one of the leaders in the emerging Industrial Internet of Things marketplace, delivering practical solutions that address operational efficiency, safety, and security. We believe that realtime systems will transform and streamline business process, and Bison is pleased to partner with Cartasite to build upon their success.”
Cartasite’s worldVIEW is a realtime geospatial platform embraced by companies in 36 countries to ensure the effective utilization of assets and the safety of their remote workers. “The new financing will enable us to enter new markets, extend the breadth of services we offer, and deepen the integration of our offering into the business systems and processes upon which our customer’s depend,” said David Armitage, CEO of Cartasite.
The Industrial Internet of Things is a term used to describe a vision where sensors and wireless networks enable more streamlined deployment of resources and personnel. Cartasite’s systems process thousands of events per second to enhance field operations and monitor the safety of remote workers.
First Analysis Securities Corporation of Chicago provided investment banking and strategic advisory services as a critical contributor to this successful financing.
Cartasite® was formed in 2004 with the goal of delivering practical technology solutions that enhance safety, security, and operating efficiency for corporations worldwide. With deployments worldwide, customers rely on Cartasite's realtime monitoring systems to produce results that enhance operating efficiency, save lives, and protect the environment.
About Bison Capital
Bison Capital is a Los Angeles and New York based private equity firm that makes growth-oriented investments in middle-market companies, for expansion, acquisitions and balance sheet recapitalizations. The firm’s primary investment approach is partnering with entrepreneurs and management teams seeking capital to grow their businesses.