RF Code at the halfway mark on a $12M funding round
September 4th, 2009
Austin Business Journals: RF Code Inc. has received $6 million of a planned $12 million Series C round of financing.
Austin-based RF Code, which develops radio-frequency identification, or RFID, devices, received the capital from seven investors, according to a filing with the U.S. Securities and Exchange Commission.
RF Code was launched in Arizona in 1998.
In 2005, the company closed a $20 million Series A round of funding from Maryland-based QuestMark Partners and California-based Intel Capital coupled with Dallas-based angel investors Moshe Azoulay and Travis Hunt.
In late 2006, RF Code won an Innovator of the Year award at the Governor’s Celebration of Innovation in Arizona. The following year, it raised a $13 million Series B round of financing, enlisted a new senior management team, and moved to Austin.
At the time, CEO Mitch Medford said the company was poised to reach profitability by 2009.
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