News Releases

TrackX Secures Additional Funding from DFJ Mercury

RFID-Enabled Asset Management Specialist Forms Board of Directors

ENGLEWOOD, Colo. - September 6, 2006 - RFID-enabled asset management provider, TrackX, Inc., today announced that it has closed additional financing from DFJ Mercury, a Texas-based, early stage venture capital fund. Adding to its Series A round of financing that was initially led by IllinoisVENTURES in May, the combined funds will be used to expand TrackX’s asset management presence across key industries and grow strategic partnerships in the United States and internationally.

TrackX also today announced the formation of its board of directors. The members include Tim Harvie, president and chief executive officer of TrackX, Inc.; Blair Garrou, managing director of DFJ Mercury; and Rob Schultz, senior director of IllinoisVENTURES.

“Based on proven ROI, RFID-enabled asset management is rapidly becoming an essential part of the supply chain for not only logistics and transportation, but every industry that has high-value mobile assets,” said Blair Garrou, managing director of DFJ Mercury and TrackX board member. “Combined, TrackX’s management team has more than 50 years of related industry experience. The team’s expertise and ability to cost-effectively create asset tracking and management products that optimize solutions for specific industries puts them in a strong position to take advantage of this opportunity.”

DFJ Mercury is an affiliate of Draper Fisher Jurvetson (DFJ), the only venture capital firm with a global presence through a network of affiliate funds. With offices in more than 30 cities around the world and more than $3.5 billion in capital commitments, DFJ’s mission is to identify, serve and provide capital for extraordinary entrepreneurs who are determined to change the world.

TrackX’s suite of software includes: TrackX AssetTrack, a comprehensive solution for tracking and managing physical assets and inventory, TrackX Yard and Dock specifically tuned for transportation and distribution environments, and TrackX DataCenter designed for tracking assets in information technology labs, co-location and equipment facilities. The end-to-end asset management software is highly configurable, flexible and is easily integrated with best-of-breed RFID, GPS and sensor technologies.

“With the support of DFJ Mercury and IllinoisVENTURES, TrackX has the financial support and strategic relationships that will propel us to the next level,” said Tim Harvie, president and chief executive officer of TrackX, Inc. “The continued expansion of our products has improved our ability to service our customers and expand key partnerships both domestically as well as internationally. In combination with broadened industry capabilities and increased support for Sarbanes-Oxley regulatory compliance, TrackX has forged a solid foundation upon which we can facilitate rapid growth.”

About TrackX
TrackX’s RFID-enabled asset tracking and supply chain management solutions improve the visibility, accuracy, security and utilization of a company’s mobile and fixed assets. Its end-to-end solutions combine highly configurable and patented software and implementation services with hardware from leading RFID, barcode, GPS and sensor technology providers. Real-time asset location, condition and alerts result in a more efficient use of inventory, improved utilization and reduced operating costs. Formerly Applied Logistics, TrackX is a privately held company with headquarters in Englewood, Colorado. On the Net: www.TrackXinc.com.

About DFJ Mercury
DFJ Mercury is a Texas-based seed and early stage venture capital fund. DFJ invests in companies that are addressing large market opportunities in the information technology, applied materials and life science sectors. DFJ Mercury is part of the global intelligence network of Draper Fisher Jurvetson funds. On the Net: www.dfjmercury.com.

###

For TrackX Inc.:

303-799-0700

 



Next Steps

Contact Us
Downloads
Request Demo
Request a Quote
Newsletter Sign-up
Privacy Policy Locations     © Copyright 2013 TrackX, LLCFind us on FacebookFollow us on Twitter