FOR IMMEDIATE RELEASE
CONTACT: Christine Welch, 714-573-0899 ext. 225, firstname.lastname@example.org
TECH COAST ANGELS ANNOUNCES ANOTHER SUCCESSFUL EXIT
IRVINE, Calif. (July 16, 2014) – 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.
ABOUT TECH COAST ANGELS
Tech Coast Angels (www.techcoastangels.com) is the largest angel investor group in the United States. Its members provide funding and guidance to more early-stage, high-growth companies in Southern California than any other investment group. Since 1997, TCA has invested nearly $150 million dollars in over 260 companies and attracted an additional $1.4 billion dollars for portfolio companies. In 2013, TCA invested over $14 million in 43 companies.
TCA members invest in companies in a wide range of industries, including life sciences, biotech, financial, software, digital media, clean tech, consumer products and tech startups. TCA members give companies more than just capital; they also provide counsel, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent. Tech Coast Angels has nearly 300 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Central Coast and the Inland Empire. More information on investment with Tech Coast Angels can be found at www.techcoastangels.com, www.facebook.com/techcoastangels or twitter.com/techcoastangels.