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Primary Tracking Closes Investment Round with SilkRoad Equity and Westlake Ventures
Winston Salem, NC (PRWEB) March 5, 2007 - SilkRoad Equity announced today the closing of additional investment funds in Primary Tracking. Westlake Ventures, another investor in Primary Tracking, also participated in the Series A Funding round. The funds will be used to enhance sales and marketing initiatives and develop additional RFID applications.
Primary Tracking is a supply chain management and security company that leverages radio frequency identification (RFID) technology. The company develops software and hardware solutions to track and secure people, assets, and inventory in the transportation, public safety, and fast moving consumer goods (FMCG) industries.
Founded in 2003 by Brad Mack, president and CEO, Primary Tracking has experienced tremendous growth in a relatively fledgling industry that has spurred the need for additional capital. SilkRoad Equity first invested in the company in 2004. The market for RFID applications continues to build momentum and is expected to grow to $3B by 2009.
"Having SilkRoad Equity backing your company is great in that not only is the SilkRoad name attached to your company, but you have access to a solid team of successful business leaders for strategic advice and support," said Mack. "It's more than just money, it's a partnership."
"SilkRoad Equity has a track record of investing in companies dedicated to improving safety and security of people and assets in the public and private sector," said Andrew J. "Flip" Filipowski, executive chairman and CEO of SilkRoad Equity and chairman of the board for Primary Tracking. "Primary Tracking's RFID applications are a critical piece to protect the supply chain."
About Primary Tracking, LLC
Primary Tracking is a developer and supplier of software applications that create complete visibility and security of all assets and inventory throughout the supply chain, using a .NET framework, offering web-based Software as a Service (SaaS) solutions that leverage RFID, barcode, GPS, satellite and cellular technologies. The company's main office is located at 111 Chestnut Street, Winston-Salem, N.C. 27101. Primary Tracking also has a state-of-the-art RFID lab facility in Winston-Salem to support customers' RFID research and projects. More information on Primary Tracking can be found at http://primarytracking.com or by calling 336.558.7717.
About SilkRoad Equity, LLC
SilkRoad Equity, LLC, is a private investment firm that invests in businesses in a broad range of industries and manages them for growth and profitability. SilkRoad Equity primarily invests in the areas of technology, life sciences, media and entertainment and real estate, and is a group composed of companies such as InterAct, SilkRoad technology, MissionMode, OpenHire, SilkWare, SolidSpace, Pendulab, TrueLook, House of Blues Entertainment and MastroNet. The company is located at 111 Chestnut Street, Winston-Salem, N.C. 27101. More information on SilkRoad Equity can be found at http://www.silkroadequity.com or by calling 866.329.3363 in the US, or +1 336.201.5100 internationally.
About Westlake Ventures, Inc.
Westlake Ventures, Inc., specializes in investments in development stage enterprises. Based in Madeira Beach, Fla., Westlake Ventures was started in 2005 by CEO Carl W. Treleaven.
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