Neel Mehta
Glympse announced Tuesday that they have secured $12 million in financing from new investors UMC Capital and Verizon Ventures, as well as existing investors Ignition Partners, Menlo Ventures and Naya Ventures.
The company’s total capital now stands at nearly $20 million, their applications collecting a number of industry awards for innovative technology and design.
Bryan Trussel, co-founder and CEO of Glympse said that the company has set the standard for real-time location sharing.
“Our lean team has been able to accomplish tremendous things and this latest round sets the stage for more rapid development and expansion,” said Trussel.
In the past two years a handful of partners have integrated Glympse technology into their products including messaging applications, the ‘Connected Car,’ ‘Wearables’ like Samsung’s Galaxy GEAR, navigation and air travel.
Dan Keoppel, executive director at Verizon Ventures says that Verizon was one of the first to integrate Glympse’s location sharing tools into their applications.
“We quickly saw the technology solving a very real problem for our customers. We are pleased to invest at this time and believe there is enormous opportunity for Verizon and Glympse to further its leadership position.â€
Glympse said that the new capital will be used to grow and further invest in products, extending into new verticals with new partnerships and expanding as a company.
