Friday, July 13, 2007

Skyhook Raises $8.5 Million in Third Round of Venture Capital - Boston, MA

Skyhook Wireless, a Boston-based provider of location-based wireless services technology, has raised $8.5 million in its third round of venture capital, led by RRE Ventures. Founded in 2003, Skyhook Wireless offers a metro-area positioning system that uses Wi-Fi networks rather than satellites or cell towers to deliver precise location data. The system requires no new hardware, works indoors and outdoors, provides an instant location and is more accurate than current technologies in congested downtown areas, according to Skyhook. Investors in the company also include Bain Capital, Intel Capital and Common Angels.


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