– Tech Coast Angels (TCA), the nation’s largest angel investor network, today announced that it has realized a successful exit from AIRSIS, Inc., a diversified technology company that develops software and hardware solutions with a focus on web-based satellite tracking and monitoring technology for energy and transportation industries. AIRSIS was recently purchased by Oceaneering International, Inc. (NYSE:OII).
“TCA helped launch AIRSIS and guided the company as it evolved and developed applications targeted at energy and transportation companies,” said Ralph Mayer, chairman emeritus of Tech Coast Angels, San Diego and former chairman of AIRSIS. “AIRSIS was an early innovator in ship tracking technology, creating the company’s PortVision® product line, which is becoming a standard in the marine industry and is used by all the major oil companies to improve the efficiency of their marine terminals at oil and gas refineries.”
TCA led two essential early investments which helped transform AIRSIS as it began as a young custom software development company working on a number of location-based applications using satellite technology. Additionally, TCA’s investment helped to fund the development and marketing of AIRSIS’ PortVision®, a SaaS product for vessel tracking in the maritime industry.
“My experience with Tech Coast Angels was a textbook case of the power of the angel investment model,” said Dean Rosenberg, president and CEO of AIRSIS. “TCA led $2 million in funding for my company, which is an amount that is difficult to get from other sources. Individual TCA members also stepped up at different times to provide debt financing when needed. I received valuable advice and mentoring from the TCA-appointed board member, and other TCA investors who regularly supported me with business development and general business coaching. As we now celebrate a successful liquidity event, the partnership was truly a win-win for all.”
For more information about AIRSIS, visit http://www.airsis.com.