Omnitrol Networks announced today that it has closed a round of financing with Javelin Venture Partners and several existing investors, raising the company’s total investment since inception to approximately $15 million. The cash infusion will be used to expand sales and marketing, and help accelerate key initiatives in response to sustained industry growth. Omnitrol is expected to announce major partnerships in the next several months.
“We see a substantial market opportunity for companies who can leverage an ‘Internet of Things’ infrastructure to provide real-time intelligence on the status, location and condition of assets,” said Jed Katz, Managing Director of Javelin Venture Partners. “Omnitrol has become a leader in this sector, and we are excited about supporting their long-term plans.”
Omnitrol has deployed its platform and solutions with industry leading companies in aerospace & defense, manufacturing, logistics, food & beverage and retail-store operations.
“Rapid growth and adoption of wireless, RFID and location-based sensor technologies has accelerated demand for Omnitrol’s highly scalable software platform,” said CEO Raj Saksena. “Customers and partners building solutions on our platform are able to achieve new heights in financial performance by significantly improving customer satisfaction and reducing costs. Our customers automatically share information accurately and quickly in real-time from shop-floor operations creating a smarter and more collaborative supply-chain with their business partners.”