TrackR Raises $50 Million

Electronics startup TrackR announced it has secured $50 million in Series B financing. Seven investors contributed to the round, among them Revolution Growth, Foundry Group, Amazon, DoCoMo Capital, Glenmede Trust, and Bespoke Strategies.

TrackR delegates the task of remembering where items are located to computers. The company has created a small wireless tracking device that interacts with software applications running on mobile devices and remote servers. The company has shipped more than five million devices, and it is ranked No.155 on Inc. Magazine’s list of the 500 fastest growing companies in the U.S.

In its announcement, the company said that with this round of funding TrackR will “redefine personal organization by ensuring nothing is ever lost for millions of consumers,” while continuing to build its leadership position in the intelligent tracking space.