RapidSOS, a US-based emergency response technology developer backed by multiple corporates, closed a $55m series B round yesterday following a $25m extension led by corporate-backed investment firm Energy Impact Partners.
M12, the corporate venturing vehicle for software provider Microsoft, joined insurance group CSAA for the initial $30m series B close in November 2018.
The first tranche was led by venture capital fund Playground Global and also included Highland Capital Partners, Forte Ventures, Two Sigma Ventures, Westly Group and private investors including Ralph de la Vega.
RapidSOS has developed technology that securely transmits data from connected devices at the scene of emergencies and other sources to help first responders provide assistance.
Sources of data include medical providers, transport operators, vehicle telematics and information from internet-of-things sensors in buildings.
The series B capital will be used to accelerate RapidSOS’s strategy, which includes international expansion and adding more data providers to its platform. It brings RapidSOS’s overall funding haul to about $90m.
CSAA and M12 – then known as Microsoft Ventures – backed RapidSOS’s $16m round in April 2018 led by Highland Capital Partners, after Motorola Solutions Venture Capital and A3 Ventures – respective subsidiaries of communications technology provider Motorola Solutions and motor club AAA – joined forces to help close a $14m series A in 2017.
Highland Capital led the series A round, with additional participation from Westly Group, Two Sigma Ventures, Responder Ventures and various angel investors.
Highland had already led a $5m round in 2015 also branded as series A that was backed by undisclosed other investors that likely included Two Sigma Ventures.