ATLANTA – Precyse Technologies Inc., which develops real-time location and supply-chain visibility solutions based on radio frequency identification (RFID) technologies, has closed an $11 million second round of financing. Spencer Trask led the round that also included private investors.

Precyse also appointed Russ Chandler as chairman of its board and initiated relocation of its corporate headquarters to Atlanta.

Precyse says it will use the capital raised to expand its operations into new markets and continue to drive innovation.

The company was foudned in 2006 by Michael Bryman and Rom Eisenberg.
Precyse CEO Andy Mullins said,, “We see our growth opportunities central to the US market and having completed a recent state attractiveness survey, we decided to reposition the Precyse corporate headquarters to Atlanta, Georgia.

“Atlanta was an easy choice for Precyse both for its state programs geared toward attracting technology companies in terms of cost and due to the availability of some of the country’s best engineering talent.”

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Tags: Andy Mullins, Atlanta, financing, Precyse Technologies, RFID location tech, Russ Chandler, Spencer Trask