SOURCE: TextPower

TextPower

October 17, 2013 06:00 ET

TextPower Closes Oversubscribed $525K Investment Round

Funding Will Expand Utility Alert and Two-Factor Authentication Businesses

SAN JUAN CAPISTRANO, CA--(Marketwired - Oct 17, 2013) - TextPower, Inc. (www.textpower.com), a leading provider of text messaging for enterprise alerts and security authentication, today announced the closing of its Series A financing round that netted the company $525,000. The round was oversubscribed and included investments from Tech Coast Angel's ACE Fund, as well as several prominent Orange County angel investors. 

TextPower is a leader in innovative text messaging software solutions for utilities, municipalities and academic institutions and is launching a patent-pending two-factor authentication solution for website security. The company has emerged as a critical technology partner to energy and utility providers through its SmartAlerts platform that enables utilities to communicate information about outages, conservation, usage, and even prepaid meter status via text message (SMS). 

Already deployed in dozens of utilities across the US, the TextPower platform is unique in facilitating inbound text messages to report outages through direct integration into Outage Management Systems and is being used by municipalities to accept reports about graffiti, potholes or storm damage, supplementing older voice-centric systems to save costs and improve operational efficiency.

"We will use the investment to enhance our sales and marketing in the utility and enterprise areas for our SmartAlerts, as well as growing our website security business," said Mark Nielsen, TextPower's Executive Chairman and co-founder. "We have established the company as the go-to source for reliable, instant communication between utilities and their customers."

"This investment validates our strategy and market position," said Scott Goldman, CEO and co-founder. "TextKey™, our patent-pending website security product, has enormous potential because it offers small and medium-sized businesses what Network World called 'Iron-clad protection on a budget."

About TextPower, Inc.
TextPower, Inc. provides alerting and authentication solutions to a variety of industries worldwide using text messaging (SMS). The company's software and text messaging services help companies enhance their revenues, decrease costs and improve customer service. TextPower's authentication product, TextKey™, replaces the token or security fob previously needed to verify the identity of online users for password-protected applications. TextPower's mission-critical infrastructure employs geo-redundancy for the industry's highest reliability, providing delivery to virtual every cell phone in the United States and connections to most recognized wireless operators around the world. Visit http://www.TextPower.com, email Info@TextPower.com or call 888.818.1808 for more information.

Contact Information

  • For more information contact:
    Dan Chmielewski
    Madison Alexander PR
    714-832-8716
    Email Contact