Intelleflex Closes $9M Series A Extension Funding
Intelleflex, a Santa Clara, CA-based provider of on-demand data visibility solutions, has closed a $9m Series A extension funding.
Backers include Third Point Ventures and existing investors Arcapita Ventures, New Venture Partners, and the Woodside Fund.
The company intends to use the funds to continue to grow in the fresh produce and pharmaceutical cold chain, and asset tracking and personnel monitoring markets, as well as to expand partner and channel marketing programs throughout the Americas, Europe and selected markets in Asia internationally.
In conjunction with the funding, Rob Schwartz, Managing Partner at Third Point Ventures, will join Intelleflex’ Board of Directors.
Led by President and CEO Peter Mehring, the company provides on-demand, data visibility solutions for cold chain and asset management. Its XC3 Technology™ RFID products enable a range of solutions for fresh produce, perishable food, and pharmaceutical temperature monitoring, asset tracking, personnel monitoring, retail, healthcare and other applications.