|[January 15, 2013]
ipDatatel Closes $2.85 Million Oversubscribed Growth Financing Round
HOUSTON --(Business Wire)--
today announced the closing of its $2.85 million growth capital round.
The funding was led by Genesis
Park, L.P. Tchoupitoulas Partners and existing investors also
participated in the round, which will be used to support the scale of
ipDatatel's operations as it further penetrates the security
installation and original equipment manufacturer (OEM) market.
ipDatatel designs, engineers and manufactures innovative Internet-ready
home area network (HAN) wireless devices for security, home automation
and heating, ventilation and air conditioning (HVAC) industries. The
devices connect existing and new manufacturers' alarm system controls to
the Internet and HAN connections, turning smartphones and wireless-based
devices into multi-functional, portable controls.
"The loss of landlines in many homes has made the gateway into the
existing broadband connection a choke point for many types of monitoring
and control solutions," said Peter Shaper, founding partner of Genesis
Park. "Consumers and businesses are looking for an alternative solution,
one hat does not rely on outdated phone lines and one that adds two-way
functionality to existing systems."
The ipDatatel product suite provides alarm installers, service providers
and equipment manufacturers with an enhanced product suite to provide
additional capabilities and tools to their customer base. These parties
maintain their customers and branding, respecting the existing strong,
customer-provider relationship, while ipDatatel delivers the network,
technical support and next generation products that keep customers
interested in their services.
"ipDatatel has an efficient, propriety approach that is being adopted
broadly," said Russell Vail, founder and CEO of ipDatatel. "The business
model has proven attractive for all parties in the value chain,
ultimately giving the end-user more flexibility, control and insight
into security and residential and business automation."
"We find a lot of value in this management team's deep experience in
security, wireless interface and controls," continued Shaper. "We also
like that it is based in the greater Houston area, given the range of
energy and industrial players that are continuing to integrate
"Our decision to raise additional equity came down to the strategic
value of our investors," continued Vail. "We've found Genesis Park goes
beyond providing capital, and is a true partner and mentor for its
clients. We are confident they will add exceptional value moving
The company has penetrated 80 percent of the equipment manufacturer
market, including Honeywell (News - Alert), DSC and General Electric for the purpose of
signal distribution through the Internet and HAN connections. Its
devices provide the most affordable wireless alarm communication and
auto aware services on the market. In addition, ipDatatel's equipment
integrates with existing equipment avoiding costly replacement of
systems already installed.
ipDatatel was founded in 2007 by veterans of the electronic security
business that have more than 37 years of combined experience: President
and CEO, Russell Vail and COO, Kurt Burr. Additional information can be
found at www.ipdatatel.com.
About Genesis Park
Genesis Park, L.P. is a Houston-based private equity firm with extensive
experience in Internet Protocol technologies including wireless
interfacing, automation software and networks. Additional information
can be found at www.genesis-park.com.
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