Redpoint Positioning Receives Strategic Investment from Stanley Ventures
Boston, Massachusetts (PRWEB) June 06, 2017 -- Redpoint Positioning Corporation, an emerging technology leader in the high-precision indoor location positioning, announced that it has received Series A funding from Stanley Ventures, a venture arm of Stanley Black & Decker (NYSE: SWK), a world-leading provider of tools and storage, commercial electronic security and engineered fastening systems.
“This investment from Stanley Black & Decker is an important step toward bringing Redpoint’s unparalleled GPS-like indoor-positioning solutions to market,” said Chunjie Duan, PhD founder and CTO of Redpoint Positioning.
“Redpoint’s early customer traction validates its substantive value and product-market fit for businesses in a number of industries. This has them on a positive growth trajectory and well-positioned to gain widespread market adoption. The technical prowess of the Redpoint team and its proven ability to deliver next generation RTLS solutions is a great fit with the strategic investments Stanley makes in promising cutting-edge technology companies,” said Larry Harper, vice president of Stanley Ventures. Mr. Harper has recently accepted a seat on the Redpoint Positioning Board of Directors.
Redpoint’s next generation of indoor Real-Time Location Systems (RTLS) capabilities offers expansive new possibilities in employee safety, workforce optimization, and asset management.
- Employee Safety : Actively monitor and alert employees to safety concerns as they perform their jobs or quickly identify if there is a problem and shorten response times;
- Workforce optimization: Gain real-time operations visibility with analytics, reports and dashboards to identify potential bottlenecks, issues, or inefficiencies to drive down costs and achieve productivity gains;
- Asset management and logistics Deliver full visibility to assets and supply chain, with better accuracy, real-time asset location, and smart 2-way communication.
About Redpoint Positioning
Redpoint Positioning, founded in 2010 in Cambridge, MA, is a pioneer in technology solutions for real-time location services (RTLS) and navigation solutions. Redpoint’s patented RTLS supports mission-critical enterprise application by the most accurate and affordable real-time asset and people tracking technology. Redpoint’s founders built upon their decades of experience in wireless communication technologies to develop the world’s first IEEE 802.154a compatible UWB-RTLS prototype, which led to developing and launching the patented RTLS solutions the company offers today. In addition to its Cambridge, Mass-based headquarters, the company has sales and R&D offices in Boulder, Colorado, and Beijing. For more information, please visit https://www.redpointpositioning.com
About Stanley Black & Decker
Stanley Black & Decker, a Fortune 500 component of the S&P 500, is the world's largest tools and storage company, the world's second-largest commercial electronic security company, and a world-leading provider of engineered fastening systems, with unique and powerful growth platforms in the oil & gas and infrastructure industries. World headquarters are located in New Britain, Connecticut. Visit http://www.sbdinc.com for more information.
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Anne Rath, Magnetude Consulting, +1 508-254-0180, [email protected]
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