Simtrol, Inc. recently announced the completion of a $1.5 million private placement debt financing. Included in the private placement were convertible notes and warrants to purchase common stock. The investors consisted of accredited private investors, members of the Board of Directors, and senior management.
Commenting on the news was Rick Egan, Simtrol’s Chief Executive Officer, “This financing allows us to accelerate our sales and marketing efforts in key vertical markets such as security, healthcare, education, retail, hospitality, business and government.”
Simtrol, Inc. is a leading developer and seller of a unique form of device management software that links devices to applications by utilizing open standard interfaces. The company is revolutionizing the expanding device control and monitoring industry by using proven open architecture to give clients more choices, improved functionality, unlimited scalability, easy development, and better pricing.
Current company products are used in numerous vertical markets including healthcare, security, education, retail hospitality, business and government. Simtrol sells to a number of Fortune 1000 corporations, government entities, educational systems and other end users through OEM partnerships, professional system integrators, value-added resellers (VARs) and other distributors who are supported by the Company’s sales and technical support staff.
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