MORRISVILLE, NC – RadarFind Radarfind, which sells a technology that helps hospitals locate equipment or patients, has raised $2 million of an open C round targeted at $8 million, according to Dow Jones’ VentureWire.

Founded in 2003, Radarfind spent most of its first three years building its system. It raised at least $5.5 million in previous rounds from angel investors and the NC Idea Fund.

Radarfind’s “Real-time Location system” technology “May be the best in the business,” says CEO Tery Kane in a previous interview with TechJournal South.

“We talked to a lot of hospitals and looked at what the specifications needed to be.”

Hospitals can be difficult environments in which to install system wide equipment such as wireless technologies. They have a lot of electronic equipment, separate rooms and walls and other obstacles. “The technical challenges everyone else has, this company has solved,” Kane said.

Kane described Radarfind’s patent-pending solution as “a combined technology, all integrated.” While pieces of it use a wireless frequency, it isn’t “Wi-Fi,” Kane said.

It blends power line and ISM band technologies into a system customized for each hospital. It can find any tagged device or patient.

Kane said the company’s C round will bolster its product development during slow hospital sales, according to VentureWire.

Online: www.radarfind.com

Previously on TechJournal South:
RadarFind takes bridge investment

http://techjournalsouth.com/news/article.html?item_id=2568

Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org

© 2009, TechJournal South. All rights reserved.