Allegis Capital: Industrial Wireless Leader Apprion Continues Momentum With $8M in Series C Funding

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Sarah Prinster
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Industrial Wireless Leader Apprion Continues Momentum With $8M in Series C Funding

PEI Funds joins Motorola Ventures, Chevron Technology Ventures, Allegis Capital, and
Anvil Investment Associates LP in Series C Investment

Mountain View, CA — March 10, 2010 — Apprion, the leading provider of industrial wireless application networks, today announced the successful close of an $8M round of Series C funding. Participating in this round of investment were PEI Funds along with current Apprion investors Allegis Capital, Motorola Ventures, CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, and Anvil Investment Associates LP.

"Facing the most challenging business environment in years, Apprion has continued to grow and thrive," said Doug Donzelli, CEO of Apprion. "Apprion's industrial wireless applications are delivering what manufacturers value most – cost-effective, reliable, turn-key solutions that address their most pressing compliance and operational challenges. This round of financing will allow us to build on our momentum and accelerate the development of new products that will extend our market, technology, and thought leadership."

Apprion delivers wireless application networks and services for the process manufacturing industry. Apprion's ION System enables industrial facilities to cost-effectively deploy and manage multiple wireless applications as one unified, integrated system. The ION System consists of the Apprion IONosphere and IONizers. Integrated into the ION System are five applications that are core to industrial wireless application networks: Video Monitoring, Communications, Condition Monitoring, Workforce Mobility, and Location.

"We have seen how wireless technologies and applications have transformed how manufacturing facilities operate by providing more secure, safe, efficient and reliable industrial operations," said Lara Druyan, General Partner at Allegis Capital. "As the only company to have thoughtfully integrated industrial wireless infrastructure, applications, and services, it is apparent that the Apprion team is leading this transformation."

About Apprion

Apprion delivers wireless application networks and services for the process manufacturing industry. Apprion's industrial products and services enable the deployment of wireless applications with the lowest total cost of ownership. Customers included market leaders in oil/gas, chemical, pulp/paper and power/utilities. For more information, go to: www.apprion.com.

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