InSync Software, Inc. a San Jose, CA-based company that provides the fabric for the world’s leading RFID, GPS and sensor-driven line of business software applications, has closed a $4.7m Series B funding round.
The round was led by existing investors Intel Capital and Rustic Canyon Ventures, along with participation by strategic individual investors.
InSync’s iApp Platform and iApp Solution Templates allow customers to develop and deploy applications to locate and track assets, improve operational efficiencies and manage risks. InSync’s software combines sensory data and enterprise information (via ERP, WMS, etc.) to actively manage assets regardless of their location.
As stated by Ravi Panja, CTO and co-founder of InSync: “This investment helps to secure InSync’s place as a leader in this industry.
“We are the only company capable of offering these solutions as an on-demand service model, which resonates well with cost-minded managers in today’s economy. The additional capital puts us in an excellent position for extended growth and success”.