Securus, Inc. Receives Investment From Naples Ventures, LLC
Robert DiRomualdo to join Board of Directors.
- Raleigh-Durham-Chapel Hill, NC (1888PressRelease) August 04, 2010 - Securus, Inc., a provider of GPS-based products and technology to address a new, and fast growing segment of the GPS market, Safety and Security applications, announced today an investment by Naples Ventures, a specialty investment firm based in Naples FL.
"We are very pleased to have Naples Ventures as an investor in the Company," states Chris Newton, President and CEO of Securus, Inc. "As a very successful early stage investment firm, they well understand the challenges and opportunities with early stage investments and bring a wealth of experience and contacts to the company. We look forward to working with them as we grow our company."
Securus has created a unique GPS-based technology platform, "GPS as a Service" to deliver, along with its market partners, fully featured and customized safety and security solutions designed specifically for each vertical market. Securus plans to leverage this technology platform and use the new investment capital for company expansion with an emphasis on bolstering its sales and marketing to accelerate growth into additional vertical markets within the GPS Safety and Security market.
"We are excited about our investment in Securus," states Bob DiRomualdo, Founder and CEO of Naples Ventures, LLC. "We believe that the use of specialized GPS services for safety and security applications will explode over the years. Securus has a winning technical and business strategy, has market traction in a number of verticals, and has an excellent team. We believe that the success of the company and the potential for growth is remarkable."
Naples Ventures' investment model is to hold only four active investments in its portfolio at any given time. Since EBay's acquisition of portfolio company Bill Me Later in 2008, Naples Ventures has been seeking its fourth active investment. Securus has filled this spot and Bob DiRomualdo has joined Securus' Board of Directors.
"We welcome Bob to the Board," states Dave Tomick, Chairman of the Board of Securus, Inc. "I look forward to working with him and believe that he complements the team tremendously."
About Naples Ventures
Naples Ventures is a boutique investment firm that invests in and buys companies, typically focusing on consumer oriented businesses. Naples Ventures has a majority ownership in Landmark Stores, LLC, operator of People's Pottery stores in New York and Florida, and Naples Direct, a direct marketer of motorcycle accessories and parts. Naples Ventures also has minority investments in a number of other retail and support businesses. Naples Ventures investments have included investments in Bill Me Later, acquired by EBay, and Ulta Salons (Nasdaq: Ulta). Naples Ventures is led by Bob DiRomualdo. Prior to forming Naples Ventures, Bob was the Chairman and CEO of Borders Group (NYSE: BGP).
About Securus:
Securus is focused on deploying GPS-enabled solutions for the Safety and Security market. Securus has developed a complete GPS technology platform, "GPS as a Service", enabling the Company and its market partners to deliver tailored GPS hardware and software solutions specifically designed for each vertical. Securus' strategy is to partner with leading companies in each vertical market with domain expertise and ready market access ensuring best-of-class solutions and rapid market growth. Securus has launched a product for the pet market in partnership with American Kennel Club Companion Animal Recovery (www.SpotLightgps.com) and will announce new products and partnerships for additional markets in the coming months. Visit Securus at www.SecurusGPS.com.
Media Contact: Megan Lavery: 866-989-7768 | MLavery ( @ ) SecurusGPS dot com | www.SecurusGPS.com |
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