Rosum adds TruePosition as Strategic Investor.
Rosum Corporation announced today that it has raised $15 million in new financing. Existing investors Charles River Ventures, Allegis Capital, Steamboat Ventures and KTB Ventures, and new investor TruePosition, Inc., a subsidiary of Liberty Media Corporation, participated in this round of financing.
Skip Speaks, Rosum CEO, commented, “In the past seven months, we have secured partnerships with Intel Corporation and 2Wire Inc. This new financing will enable us to accelerate our expansion into the mobile TV and femtocell markets and to capture emerging global opportunities for our solution. We are grateful for the ongoing support from our current investors and we are excited to add TruePosition, a market leader in the field of location technology, as a strategic investor.”
Stephen Stuut, TruePosition CEO, added, “Rosum’s TV-positioning solution is well-aligned with our vision of delivering always-available location-based services, indoors and out, with the best technology available. We are pleased to join the Rosum Board of Directors.” Rosum is the first and only company to harness the broadcast TV infrastructure to deliver location and timing solutions where GPS is most challenged – indoors and in urban canyons. The TV infrastructure is robust, distributed, and highly correlated with population centers, cellular service and broadband penetration.
Analysts project as many as 446 million mobile TV handsets will be shipped globally by 2011. For device makers deploying TV-capable mobile devices, for mobile TV network operators and for wireless operators supporting mobile TV handsets, Rosum’s TV-positioning technology is a software-only solution enabling location-based services such as search, advertising, and security. Location-based services and advertising provide relevant, timely access to information – a benefit to consumers and a high-value source of revenue for carriers.