Redpoint Positioning Corporation, a Boston, MA-based indoor location positioning platform provider, received Series A funding from Stanley Ventures, a venture arm of Stanley Black & Decker (NYSE: SWK).
The amount of the deal was not disclosed. In conjunction with the funding, Larry Harper, vice president of Stanley Ventures, joined Redpoint Positioning’s Board of Directors.
The company intends to use the funds to accelerate the commercialization of its solutions.
Founded in 2010, Redpoint Positioning provides technology solutions for real-time location services (RTLS) and navigation solutions which offers applications in employee safety, workforce optimization, and asset management, as follows:
– 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.
The company also has sales and R&D offices in Boulder, Colorado, and Beijing.