San Diego’s Awarepoint Raises $27M in Series F—As in Final—Venture Round

San Diego-based Awarepoint, which has developed real-time tracking technology for the healthcare industry, says today it has raised $27 million in a Series F round of financing led by Silicon Valley’s Kleiner Perkins Caufield & Byers.

The company says a new investor, San Francisco’s Top Tier Capital Partners, joined in the round, along with existing investors Cardinal Partners, Venrock, and Jafco Ventures. The company has previously raised at least $57 million in a combination of equity and debt financings that included San Diego’s Avalon Ventures and Silicon Valley Bank.

Awarepoint plans to use the proceeds to expand its business and drive adoption of what it calls its aware360°Platform, which combines the company’s wireless mesh sensor network technology with software acquired earlier this year with the purchase of Charlotte, NC-based Patient Care Technology Systems.

As I explained in June, Awarepoint CEO Jay Deady intended to use Patient Care’s technology to broaden Awarepoint’s software portfolio, making the company more of a full-service provider of health IT products and services with Patient Care’s portfolio of software technologies. Deady also told me at that time that he was working to close what he expected would be the company’s final round of venture capital

In the statement released today, KPCB partner Dana Mead says, “Awarepoint delivers innovative technology and software solutions to healthcare providers enabling them to uniquely address escalating costs and compliance challenges.”

Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.