Destinator Technologies Raises $9 Million in Funding From Leading Institutional Investors; Leading Provider of Personalized Navigation Software Will Use Funding to Accelerate Market Penetration Worldwide; Set the Stage for Public Offering.SCOTTSDALE, Ariz. -- Destinator Technologies, the leading provider of personalized navigation software and live navigation-based mobile services, today announced that it has raised $9 million in its B round of funding, bringing the total amount of capital raised to $17 million. Participating in the round are a number of leading institutional investors. Selling its solutions exclusively through channels, Destinator Technologies is the navigation software supplier of choice for OEMs and ODMs worldwide, and it is one of the top three navigation solution providers in Europe. Based on its current run rate, Destinator Technologies expects to ship more than 1 million licenses of its products to markets around the world, up 233 percent from the 300,000 units delivered in 2004. The new round of funding will be used to further accelerate Destinator Technologies' market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" worldwide and lay the groundwork for an initial public offering. The funding coincides with Destinator Technologies' expansion into North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and China, building on its established presence in Europe, Israel and the Asia-Pacific. Today, global partners include Acer, Asus, d-Media Systems, Eten, Fujitsu-Siemens, Mitac, Navteq, Orient Power, TeleAtlas and Thinkware. "This round of additional funding further accelerates our ability to address the rapid rise in an appreciation and demand for new levels of mobile functionality worldwide by extending the availability of our award-winning solutions and expanding our global footprint," said Dennis DeCoste, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Destinator Technologies. "As one of the fastest-growing software providers in the personal navigation market, we look forward to helping our OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and and ODM (Original Design Manufacturer) A contract manufacturer that uses its own designs and intellectual property (IP). See contract manufacturer. partners achieve greater success across the globe." About Destinator Technologies Destinator Technologies enables personalized navigation solutions that provide relevant information, anywhere, anytime. As the preferred OEM provider of choice, consumers, businesses and governments purchase our patented and award-winning solutions through the largest hardware manufacturers, mobile carriers and systems integrators in the world. Our solutions are fully adaptable for individual personal navigation, live, navigation-based mobile services, private and public sector security, and enterprise mobility. Destinator Technologies is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " with offices in Richmond Hill Richmond Hill may refer to: Places:
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion