Entigral Systems, a Raleigh, NC-based enterprise software company, closed an over $500k first tranche of its $1.2m Series A financing.
The second tranche of the financing is scheduled to close in 2014.
The round was led by the Piedmont Angel Network Three (PAN3), with participation from three other angel groups, IMAF-Cape Fear, IMAF-RTP and Triangle Angel Partners (TAP). In conjunction with the funding, PAN’s Tom Storrs will join the company’s Board of Directors.
The company intends to use the funds for corporate expansion, specifically to hire software developers, marketing and sales staff and to execute on new marketing and sales programs.
Founded in 2003 by Allen Bennett, Chairman, and led by Booth Kalmbach, President and CEO, Entigral Systems develops and sells TraxWare ‒ a sensor automation platform that enables a new generation of sensor-based asset tracking applications, primarily using Radio Frequency Identification (RFID) sensors, for Manufacturing Execution Systems (MES).
These apps include capital and fixed asset tracking, work in-process management, warehouse and supply chain management, and inventory replenishment.