Chances are you鈥檝e experienced the unique horror of realizing you鈥檝e misplaced your keys or wallet. To add insult to injury, you likely discovered this just as you were trying to leave the house. It happens to the best of us.
is a company that has set out to prevent those moments. Its range of lightweight, Bluetooth-enabled devices clip onto key-rings or slip into wallets. The device will then make a beeping sound when in range of either a cell phone running the app, an Amazon Echo with the TrackR skill, or another TrackR device.
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On Friday afternoon, TrackR with the SEC indicating that it鈥檚 raised $10.08 million in a Series C financing round. Three investors committed capital to the round, which was fully funded. No further details about this particular transaction are available at this time.
The Series C round brings to $70.35 million, plus an additional $1.55 million the company raised across two product crowdfunding campaigns in and .
was closed in August 2017. The $50 million deal鈥攚hich was led by Revolution Growth and had participation from , , , and 鈥攙alued the company at just over $201 million.
But recent history may suggest that the company鈥檚 valuation didn鈥檛 rise in this round. In January of this year, TechCrunch reported that (roughly half the company at the time). That was mere weeks after . The Santa Barbara-based company was also affected first by wildfires and then by mudslides in the region around the same time.
The company continues to innovate on its core product offerings. In partnership with high-end pen maker Cross, the 鈥淐ROSS Peerless TrackR,鈥 a ballpoint pen with a built-in tracking device.
But, again, apart from keys, wallets, a fancy pen, and some small bags and pouches, there isn鈥檛 much else one needs tracked all the time.
If the company can fend off (which has raised ) and other well-funded startups isn鈥檛 clear. However, if it fails, it won鈥檛 be due to a lack of investor interest or money.
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