New Funding for RFID Technology Vendor RF Code

"Hybrid" radio frequency identification solution provider draws $20 million for R&D, marketing and support operations

"Hybrid" radio frequency identification solution provider draws $20 million for R&D, marketing and support operations

Mesa, AZ — June 27, 2005 — Radio frequency identification specialist RF Code has closed a $20 million round of venture capital funding, the first institutional round of funding in the company's eight-year history.

RF Code, which offers hybrid RFID data management software and enabling technologies, said the funding will support new product development and the growth of the company's channel sales and support organization.

QuestMark Partners of Baltimore led the new financing, which also included Intel Capital of Santa Clara. Previous investors also participated in the round. Thomas Hitchner and Michael Leidesdorff of QuestMark Partners will join the RF Code Board of Directors.

"With a strong management team and an eight-year history of success in asset tracking and RFID data management, RF Code is well positioned in the marketplace," said Hitchner. "We see RF Code's intellectual property, software development expertise and market experience as a powerful combination."

"RF Code's vision of 'hybrid RFID,' combining passive tags, active tags, and sensor-based networks, is consistent with how Intel sees growth in this field," said Mike Dierks, a director of strategic investments at Intel Capital. "Their data management architecture and low-cost active tags enable companies to create supply chain and asset tracking solutions that offer compelling value."

Additional Articles of Interest

— RFID technology has the potential to change the way supply chains are managed, but in order to be effective businesses need to take a holistic look at the deployment. Read more in the article "Time for RFID: Applying RFID in the Supply Chain."

— For a contrary view of the future of the RFID market, see the article "The O'RFID Factor: A 'No Spin' Look at Where Radio Frequency Identification Is Headed," in the October/November 2004 issue of Supply & Demand Chain Executive.

— For more information on trends relating to radio frequency identification (RFID), follow this link for an extensive listing of articles, featuring the latest research findings on the RFID, including adoption, return on investment and barriers to implementation.