# SkyBitz

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/skybitz

- Industry: Software
- Headquarters: Herndon, US
- Website: www.skybitz.com
- Total disclosed funding: $43M
- Latest round: Series D (Feb 7, 2007)
- Investors on record: 7

## About

SkyBitz, Inc. provides advanced wireless solutions for real-time asset tracking and monitoring, utilizing IoT technologies to enhance operational efficiency for diverse clients across various industries.SkyBitz, Inc. specializes in asset tracking and monitoring solutions. Founded in Herndon, US, the company has seen a pivot in its strategy, culminating in its acquisition by Telular Corporation for USD 42.00 mn on December 5, 2011. Rick Martin serves as the CEO, overseeing its operations and strategic direction.SkyBitz specializes in providing advanced wireless solutions for real-time asset tracking and monitoring, leveraging IoT technologies to enhance operational efficiency and financial performance for a diverse client base. Their core product offerings include SmartTank, SmartTrailer, and SMARTruck, designed to optimize logistics and asset management across various industries, including petroleum logistics and tank monitoring. These solutions cater primarily to businesses requiring precise tracking and monitoring of their assets, enabling users to manage inventory levels, reduce operational costs, and improve overall supply chain visibility. SkyBitz solutions are utilized across North America and select international markets, addressing the needs of medium to large enterprises in sectors such as transportation, energy, and logistics.SkyBitz generates revenue primarily through subscription-based models, offering ongoing access to its tracking and monitoring solutions. Clients enter into agreements that provide technology and services for efficient asset management, structured as long-term partnerships. The company’s flagship products, such as SmartTank and SmartTrailer, are bundled into subscription plans that include features such as real-time data analytics and customer support. Transactions are executed through a B2B sales model, with pricing plans tailored to meet specific needs and scales of their clients’ operations, ensuring comprehensive solutions that drive value in logistics and asset management processes.SkyBitz intends to leverage its recent acquisition by Telular Corporation to enhance its product offerings and market presence. Plans include the development of new tracking solutions expected to be launched within the next two years, as well as expanding into European and Asian markets by 2015. The funding from the acquisition will support these initiatives, enabling the company to innovate and grow its footprint in the asset management sector.

## Funding rounds

- Series D, Feb 7, 2007, $2M — Information Technology Ventures, Inverness Graham Investments, CIBC Capital Partners, Motorola Solutions Venture Capital, Corebridge Financial, AIG Highstar Capital
- Series D, Dec 18, 2006, $7M — Cordova Ventures
- Series C, Jan 6, 2004, $16M — Inverness Graham Investments, Cordova Ventures, Motorola Solutions Venture Capital, AIG Highstar Capital
- Series B, Nov 1, 2002, $18M — Cordova Ventures, AIG Highstar Capital

## Investors

- Cordova Ventures (https://capitalatlas.ai/funds/cordova-ventures) — Series B, Series C, Series D
- AIG Highstar Capital — Series B, Series C, Series D
- Inverness Graham Investments (https://capitalatlas.ai/funds/inverness-graham-investments) — Series C, Series D
- Motorola Solutions Venture Capital (https://capitalatlas.ai/funds/motorola-solutions-venture-capital) — Series C, Series D
- Information Technology Ventures — Series D
- CIBC Capital Partners — Series D
- Corebridge Financial — Series D