Tuesday, August 7, 2018

Inseego Raises $19.7M In PIPE

San Diego-based mobility products developer Inseego announced on Monday that it has raised $19.7M in a private placement. The funding came from Tavistock Group, and also included North Sound Partners, one of the company's existing shareholders. As part of the funding, the company said that current CEO Dan Mondor becomes Chairman of its board of directors, replacing Phil Falcone. The company also added Jim Avery of Tavistock Group and Brian Miller of North Sound Partners to its board with the funding. Inseego's products are aimed at the asset tracking, fleet management, and other mobile applications areas.