Thursday, September 5, 2013

Geoforce Gets Growth Funding For Asset Tracking Service

Coppell-based Geoforce, a developer of asset tracking products for the oil and gas industry, said Wednesday that it has raised a "significant" growth equity investment for the company. Financial details of the investment were not announced. The funding came from Houston Ventures and Palmetto Partners. As part of the funding, both firms have added representation on Geoforce's board. Geoforce provides equipment asset tracking and utilization services specifically to handle requirements of the oil and gas industry, including both owned and rented equipment, using GPS, RFID, and other wireless technology. The firm is led by James MacLean, III. More information »