Sensys Secures Funding to Support GrowthJuly 28, 2008
The intelligent transportation systems company closed a $5 million round of venture capital financing to be used to expand its global sales, marketing, and customer-support presence.
BERKELEY, CA /BUSINESS WIRE/ -- Sensys Networks Inc., a leader in wireless sensors for the transportation industry, announced it closed a $5 million expansion round of funding that was led by venture capital firm Voyager Capital and including current investors Velocity Interactive, Horizon Ventures, and Garrett Gruener.
Sensys has had a record year of growth and has emerged as the new standard for vehicle detection and traffic-data collection for some of the world's largest transportation agencies. With deployments in more than 30 states in the U.S. and 10 countries internationally, the Sensys wireless vehicle-detection and traffic-data systems are quickly becoming the technology of choice for advanced traffic-management and traveler-information systems.
Curtis Feeny, Managing Director of Voyager Capital, will be joining the Board of Directors of Sensys Networks. "Voyager Capital is very pleased to participate in this round of financing for Sensys Networks," Feeny said. "They have developed a foundational technology that promises to revolutionize traffic monitoring and management. The timing of this is even more important, given the growing need for reducing fuel consumption. By using Sensys technology, cities can significantly decrease the amount of time that vehicles are on our roads. This allows cities to reduce vehicle pollution and eliminate infrastructure expansion."
"This expansion round will give us the resources to build on our market momentum and expand our global sales, marketing, and customer-support presence," said Amine Haoui, CEO of Sensys. "The adoption rate of our products has been phenomenal over the past year, and we look to continue our rapid growth and leadership in the wireless technology that is sweeping the traffic industry."
Sensys Networks Inc. is a global technology leader and innovator in wireless sensor networking and its applications in advanced traffic management and intelligent transportation systems. With city, county, department of transportation, and private customer deployments worldwide, Sensys equipment has a proven track record of providing accurate, reliable, and real-time vehicle-detection and traffic information.
Voyager Capital is a leading West Coast venture capital firm, with offices in Seattle, Portland, and Silicon Valley. The firm was founded in Seattle in 1998 and specializes in early and growth-stage companies in wireless, software, and digital media. Voyager was an early investor in Aquantive Inc., which was purchased in 2007 for $6.3 billion by Microsoft. Voyager closed its third fund in 2007 and is actively investing in IT startups on the West Coast.
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