PoLTE Completes Oversubscribed Series A Funding Round

PoLTE Completes Oversubscribed Series A Funding Round Dave Menzies Editor Publisher Startup TechWire
DALLAS -- PoLTE Corporation, provider of advanced location solutions for a hyper-connected world, has completed a multi-million-dollar Series A Funding round which was oversubscribed due to investor interest. The company has also announced that former T-Mobile executive Ed Chao joined the company as Chief Technology Officer (CTO). Chao brings more than 25 years of wireless industry and technology leadership experience to PoLTE. 

Previously, Chao served as senior vice president of technology strategy and development for T-Mobile. He played a key role in the merger transaction and integration of the company with MetroPCS, where he served as senior vice president of corporate engineering and network operations overseeing the company’s nationwide 3G and 4G LTE wireless network. Under his leadership, MetroPCS achieved several industry milestones, including first in the world to deploy commercial 4G LTE and VoLTE.

“I’m excited to have Ed join the team. Ed is an industry leader and seasoned professional with the right combination of industry experience and knowledge that will be critical to the growth of our company and continual advancement of our innovative technology portfolio,” said John Dow, CEO of PoLTE Corp. “We are continuing to attract new partners and prospects, which is a direct result of designing our core technology architecture to meet industry demands. Ed will be pivotal in helping us grow our advantage even further as we expand our market presence.

“In addition, investors have demonstrated their faith in our value proposition and business strategy with the recent oversubscribed Series A funding round,” Dow said. “The enthusiasm about our technology and company is palpable. We will use the capital for continued investment in our technology, and the addition of key top talent such as Ed, to ensure we maintain our technical leadership and are well-positioned for rapid growth.”

In January, PoLTE announced its Lite-Touch Architecture, a patented approach designed to enable location services for the next generation of billions of small, inexpensive and power-constrained mobile devices as they seamlessly move indoors and outdoors. The development of this technology design has enabled the company to attract strategic customer partnerships such as chip manufacturers, IoT solution providers, mobile network operators and IoT enablers eager to ensure legacy location approaches don’t hinder the potential of IoT.

“By leveraging existing LTE networks in conjunction with the Lite-Touch architecture, PoLTE has the ability to redefine the location space with the only persistent and ubiquitous location technology that can scale with accuracy and reliability, both indoors and outdoors, for virtually any LTE-enabled device,” said Chao. “The company is gaining significant traction within the IoT ecosystem at the perfect time, and I’m looking forward to contributing to its accelerating growth."

PoLTE will be attending Mobile World Congress in Barcelona, February 26 – March 1, located in Hall 2, Stand 2D80MR. Media and analysts interested in meeting PoLTE executives during the show should contact polte@globalresultspr.com.

Headquartered in Dallas, Texas, PoLTE is a software company offering a virtual location platform and a robust portfolio of patented location technologies for today’s hyper-connected world. Leveraging LTE, the most globally ubiquitous signal available, PoLTE’s cloud-based platform is capable of persistently and ubiquitously tracking the position of mobile and Internet of Things (IoT) devices (including those constrained by size, cost and power consumption) in real-time as they move seamlessly between outdoor and indoor environments. This method improves accuracy upwards of 10X over other methods and eliminates the need for multiple physical radios and chipsets (GPS, Wi-Fi, Bluetooth). To learn more, visit www.PoLTE.com.