TapShield Raises $750,000 in Funding
Capital will allow company to accelerate global business operations
ORLANDO, FL – December 9, 2013 - TapShield, an Orlando-based security company specializing in mobile emergency reporting and response, announced today that it has raised $750,000, a combination of private investment and public funding from the Florida Institute for the Commercialization of Public Research (the Institute).
The funding will allow TapShield to scale its operations to meet existing demand from higher ed and corporate institutions. The company plans to hire additional leadership, including sales and marketing support, to accompany recent hires that include Ben Boyd as Head of Technology. Ben recently left Discovery Communications in New York to join the TapShield team.
The Institute is a non-profit organization formed in 2007 to support new company creation and growth based on publicly-funded research across Florida. TapShield is incorporating technology developed at the University of Florida as part of its mobile inbound alert system, and in order to qualify for Institute funding had to raise private matching investment capital. This use of leading-edge indoor positioning and location tracking technology will allow the company to advance solutions that reduce emergency reporting and response time.
"The Institute is pleased to support Tapshield in its efforts to commercialize the indoor location tracking technology to build an advanced emergency reporting system,” said Institute CEO Jamie Grooms. “By integrating this technology into its product offering TapShield will be uniquely poised to better serve both higher education and enterprise customers seeking to improve public safety in complex, multi-story building locations.”
TapShield is a mobile personal security system for higher ed, K-12, corporations, and municipalities that enables rapid, detailed emergency reporting and two-way communication directly from a user’s smartphone. Consisting of a mobile application and cloud-based incident response platform, TapShield leverages advancements in global positioning technology to instantly transmit an individual’s real-time location and profile information in the event of an emergency. TapShield.com, FB: TapShield, Tw: @TapShield.
About The Institute
Formed by the Florida Legislature in 2007, the Institute for Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company projects have been identified across the state, and in the Institute deploys both company building and company funding programs to promising Florida companies. Twenty-two companies have been funded since the program’s inception. http://www.florida-institute.com.