Mesh Systems Completes $2.5 Million Series B InvestmentJune 2, 2011
Will use the funds to expand utilization of its wireless machine-to-machine (M2M) technology.
INDIANAPOLIS, IN and APPLETON, WI--(Marketwire) -- Mesh Systems LLC, a cloud-based wireless machine-to-machine (M2M) application and platform service provider, closed on a $2,500,000 Series B round of growth capital. The proceeds of this latest capital raise will be directed to specific industrial applications that will incorporate the third generation of its standards-based MeshVista platform.
Mesh Systems is leveraging the additional funding to continue to evolve its wireless machine-to-machine (M2M) hardware, software and service solution, expand its executive and engineering teams and pursue additional high-growth sectors. Key vertical markets where Mesh Systems has established itself as a leader include smart energy, water and wastewater management, and oil and gas. Currently, the company supports and manages tens of thousands of end points for its OEM clients' remote devices and geographically-dispersed assets.
"This most recent round of funding has allowed us to invest more resources in three high priority areas: technology, leadership and industry specialization," said Richard V. Baxter, Jr., Mesh Systems' president and chief executive officer. "We are poised for explosive growth. The market is demanding a comprehensive and unified wireless machine-to-machine (M2M) solution which comprises applications, wireless networks, embedded devices and data management. MeshVista, now on its third generation, offers this entire package—delivered through a M2M platform-as-a-service (PaaS) model."
As part of its growth strategy, Mesh Systems recently completed the transition of its entire network infrastructure from a traditional physical server infrastructure to a 100% cloud-based environment to gain unlimited scalability as it grows. The company partnered with n|Frame, a national leader in virtualization technology and a SAS 70 Type II compliant Indianapolis data center, to host and manage its expanding farm of virtual servers. Mesh Systems also recently added 20-year industry veteran, John Rouse, to its leadership team, as vice president of business development. Mr. Rouse, a high-profile executive in the global M2M market, is a frequent speaker, commentator and recognized authority on smart energy/metering, connected devices, wireless sensor networks and long-range UHF RFID. Mr. Rouse is based out of Mesh Systems' new Chicago office.
About Mesh Systems
Mesh Systems provides turnkey, cloud-based, wireless machine-to-machine (M2M) technology solutions that can be specifically tailored to speed the deployment of smart services across a wide range of industries. The company specializes in the sectors of agriculture, commercial/retail, energy, environmental, government, healthcare, life science, industrial, military, transportation, oil and gas, tank and pipeline, water and waste water management, and utilities. Its feature-rich and ultra-scalable MeshVista wireless M2M platform-as-a-service (PaaS) model enables OEMs (original equipment manufacturers) to connect, manage, control and gather intelligence from remote devices cost-effectively and in real-time. MeshVista unlocks the value of information from remote devices and dispersed assets, allowing its clients to lower costs, improve efficiency, speed the reliable delivery of critical business data and consistently deliver unsurpassed service levels.
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