Awarepoint secures $27 million in Series F financing

Awarepoint Corporation, the leading provider of real-time location system (RTLS) solutions for healthcare, announced today that it has secured $27 million in Series F financing. New investor Kleiner Perkins Caufield & Byers (KPCB) led the round of financing, which also included participation from new investor Top Tier Capital Partners, and existing investors Cardinal Partners, Venrock, and Jafco Ventures. Awarepoint will use the capital to fuel the company's next stage of growth and drive further adoption of its pioneering aware360Platform.

Awarepoint's aware360Suite of RTLS-enabled solutions help hospital clients reduce hard operating costs, boost top-line revenues, and increase compliance management and patient satisfaction. Clients have deployed Awarepoint's patented technology and software platforms in the areas of asset management & tracking, rental reduction, temperature monitoring, hand hygiene, emergency, and perioperative departmental workflow and throughput, and enterprise patient tracking and workflow automation.

"Awarepoint delivers innovative technology and software solutions to healthcare providers enabling them to uniquely address escalating costs and compliance challenges, which is why KPCB is so excited to be an investor in the company," said KPCB partner Dana Mead.

"The current investors are thrilled to welcome KPCB to the investor group and board of directors of Awarepoint. We continue to be excited about the growth prospects of Awarepoint and are pleased with the strong execution of the company this past year," said Brandon Hull, general partner of Cardinal Partners and member of the Awarepoint Board of Directors.

"This past quarter saw Awarepoint book more business than all of last year combined and have the highest volume of new client activations in the company's history. We are incredibly pleased with the continued support of our board and current investor group and excited that KPCB has joined the Awarepoint team," said Jay Deady, president and chief executive officer of Awarepoint.  "This round of funding will allow us to continue the major market success achieved during the first half of the year, increase investment in research and development, as well as adding additional client support resources."