# Rx Networks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rx-networks

- Industry: Software
- Headquarters: Vancouver, Canada
- Website: www.rxnetworks.ca
- Total disclosed funding: $4.8M
- Latest round: Series B (Dec 1, 2008)
- Investors on record: 3

## About

Rx Networks Inc. is a provider of advanced location-based solutions, specializing in high-precision GNSS technology that enhances positioning accuracy for various applications, including telecommunications, robotics, and asset tracking.Founded in 2002 and headquartered in Vancouver, Canada, Rx Networks Inc. delivers high-precision location services through innovative solutions. The company raised CAD 1.85 million in Series B financing in December 2008 from Discovery Capital, TELUS Ventures, and Voxx International Co., bringing its total amount raised to CAD 1.85 million. The leadership team includes CEOs John Carley and Michael Longinotti, who guide the company towards its strategic goals.Rx Networks specializes in providing advanced location-based solutions through its core product offerings, which include TruePoint and Location.io. TruePoint is a comprehensive suite of high-precision GNSS (Global Navigation Satellite System) solutions designed to deliver positioning accuracy ranging from sub-meter to centimeter levels, catering to various applications such as precision agriculture, UAVs, and last-mile asset tracking. Location.io provides reliable real-time and predicted GNSS assistance data, serving critical applications, including emergency services like E911. The company has established a global presence, with services utilized by leading semiconductor vendors, device manufacturers, and network operators across North America, Europe, and Asia-Pacific. By enabling precise positioning and custom correction services tailored to specific application requirements, Rx Networks effectively addresses the needs of its diverse customer base, which includes telecommunications companies, robotics developers, and wearable technology providers.Rx Networks generates revenue through its subscription-based model, primarily focusing on B2B transactions with clients in the telecommunications and technology sectors. The company's flagship products, TruePoint and Location.io, are offered under various pricing plans that reflect the level of service and accuracy required by clients. Subscribers benefit from access to high-availability GNSS reference data, which is essential for real-time positioning solutions. The transactions typically involve long-term partnerships with device manufacturers and infrastructure providers who integrate these GNSS services into their products. By leveraging a robust global reference network, Rx Networks ensures reliability and performance, driving ongoing revenue streams from both established clients and new business opportunities in emerging markets.Looking ahead, Rx Networks plans to enhance its product lineup with new solutions aimed at improving GNSS accuracy and service reliability, with potential launches targeted for 2024. The company is also focusing on expanding into new markets, specifically targeting regions in Asia-Pacific and Europe by 2025. The recent funding of CAD 1.85 million will be allocated to support these product developments and market expansion initiatives.

## Funding rounds

- Series B, Dec 1, 2008, $1.5M — Discovery Capital, TELUS Ventures, Voxx International Co.
- Series A, May 3, 2007, $3.3M — Discovery Capital, TELUS Ventures

## Investors

- Discovery Capital (https://capitalatlas.ai/funds/discovery-capital) — Series A, Series B
- TELUS Ventures (https://capitalatlas.ai/funds/telus-ventures) — Series A, Series B
- Voxx International Co. — Series B