Friday, May 06, 2005
Traffic.com (a/k/a Mobility Technologies) Bags $20 million
Twenty bags full for Traffic.com:
"Traffic.com, Inc., the leading independent provider of traffic data and content, has secured a financing commitment for a minimum of $20 million. An initial $10 million has been funded by Washington D.C. based Columbia Partners L.L.C. Private Capital. This achievement was one of many in the first quarter of 2005. In addition, the company is pursuing an aggressive growth strategy for interactive and television solutions, and to support this strategy, has released new products and enhancements, signed new agreements with partners and clients, and expanded its geographic digital data coverage.
'Accurate, real-time traffic information has become an essential service demanded by mobile consumers and an invaluable tool for businesses,' said Robert Verratti, Chief Executive Officer, Traffic.com, Inc. 'Our strong start to the year gives us great momentum, and this new round of funding will enable us to expand our sales, marketing, and product development capabilities to support the growing needs of our customers.'"
"Traffic.com, Inc., the leading independent provider of traffic data and content, has secured a financing commitment for a minimum of $20 million. An initial $10 million has been funded by Washington D.C. based Columbia Partners L.L.C. Private Capital. This achievement was one of many in the first quarter of 2005. In addition, the company is pursuing an aggressive growth strategy for interactive and television solutions, and to support this strategy, has released new products and enhancements, signed new agreements with partners and clients, and expanded its geographic digital data coverage.
'Accurate, real-time traffic information has become an essential service demanded by mobile consumers and an invaluable tool for businesses,' said Robert Verratti, Chief Executive Officer, Traffic.com, Inc. 'Our strong start to the year gives us great momentum, and this new round of funding will enable us to expand our sales, marketing, and product development capabilities to support the growing needs of our customers.'"
