has closed on a $28 million equity round of capital led by new investors Foundation Capital and Bay Partners, joining existing investor SilkRoad Equity. Plans for the current round of capital include a significant expansion of InterAct’s worldwide direct sales and marketing efforts, strategic acquisitions and new product development. Warren Weiss, general partner of Foundation Capital, and Eric Chin, general partner of Bay Partners, will join the company’s board of directors.
InterAct is the leading provider of comprehensive public safety and homeland security solutions for private sector businesses, as well as local, state, national and international government agencies. InterAct’s suite of mission critical applications include a Next Generation 911 phone system; multi-agency, scalable computer aided dispatch, mapping and mobile data sharing systems; as well as digital video surveillance and emergency notification systems.
InterAct is poised for significant growth with high demand for versatile and adaptive Next Generation 911 systems. Warren Weiss, general partner at Foundation Capital who also joins InterAct’s board of directors, believes the public safety industry is reaching a tipping point with the development of public safety networks that will enable Public Safety Answering Points (PSAPs) to take advantage of virtual consolidation. “InterAct is uniquely qualified to serve the needs of the evolving market trends. We are excited to back one of the clear leaders in the industry and help continue to drive their rapid growth,” said Weiss.