Envista Corporation, a Beverly, MA-based provider of map solutions delivered via web that allow public and private organizations to enhance the safety of streets and roadways, has secured $4.1m in venture capital funding. Investors include Borealis Ventures, Egan-Managed Capital, and Point Judith Capital.
The company, which aims to close the round at $7.6m, intends to use the capital to expand business initiatives both domestically and abroad, and develop its solutions. In July 2010, Envista introduced Smarter Streets, a suite of web modules that geo-locate on a dynamic map all activities occurring in the public right of way. It allows the entities responsible for these activities to manage and coordinate their respective projects, incidents and events to improve the performance and safety of streets and roadways.
Envista’s web-run software also links planned or unplanned events to traffic management, and allows subscribers to access and share detailed information, including contact information, project and event schedules, conflicts, and opportunities.
Customers include the cities of Baltimore, Md., Lowell, Mass., Providence, R.I., Sacramento, Calif., and Washington, D.C., Norfolk, Va. and Portsmouth, Va., the District of Columbia Water and Sewer Authority, Hampton Roads (Va.) Sanitary District, Pepco Holdings, Inc., City of Providence, Shaw Communications, the Providence (R.I.) Water Supply Board, Trigen-Baltimore Energy Corp., and Washington (D.C.) Gas.
FinSMEs
01/12/2010