Filip Technologies attracts $8 mln

Filip Technologies has secured $8 million in funding. Investors included Horizons Ventures, KEC Ventures and The Social+Capital Partnership. Also, Filip has named Gilad Novik of Horizons Ventures and Jeffrey Parkinson of KEC Ventures to its board of directors. Filip is a maker of products and services designed to keep families in touch.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Filip Technologies today announced it has raised up to $8 million in additional funding from new investors including Horizons Ventures, KEC Ventures and The Social+Capital Partnership. On November 22, Filip Technologies launched its flagship product, FiLIP, a wearable smart locator and phone for kids that keeps parents and kids in touch at the push of a button. The funding will be used for hiring, growth and further product development.
“With the launch of FiLIP, we are fundamentally changing the way that parents and kids communicate, but we see the potential for our technology to bring people together in a variety of other applications around the world,” said Jonathan Peachey, CEO of Filip Technologies. “Since the company was founded in 2010 we have been fortunate to have the backing of people who share our vision. For our first round of institutional capital we wanted to work with investors who understand our market and can bring strategic value to the company as we grow. This investment from firms that recognized the potential in companies such as Facebook and Skype will help us to more aggressively pursue the numerous opportunities we see for FiLIP.”
The investment firms participating in this round of funding include:
Horizon Ventures—Based in Hong Kong, Horizons Ventures manages the Internet and technology investments of Mr. Li Ka-shing globally. The firm has a track record of identifying global innovators and made some of the earliest investments in companies such as Skype, Facebook, Spotify, Siri, Summly, Waze and Onavo.
KEC Ventures—KEC Ventures is a venture capital firm that invests in early stage technology companies capable of transforming the markets in which they operate. KEC partners with talented entrepreneurs and works alongside them to offer strategic advice and support in all facets of their business.
The Social+Capital Partnership—Based in Palo Alto, Calif., The Social+Capital Partnership brings together philanthropists, technologists and capitalists to create value and change on a global scale through venture capital investing.
Gilad Novik of Horizons Ventures and Jeffrey Parkinson of KEC Ventures will join the Filip Technologies Board of Directors.
Additionally, the company announced the appointment of Michael Fawkes to its Board of Advisors. From 1979 through 2007 Mr. Fawkes was a Senior Executive at Hewlett Packard. Most recently, he was Senior Vice President of Global Operations for HP’s $29B Imaging & Printing Group. Mr. Fawkes also serves as a director of Saba Software and has served on the board of Tesla Motors.
“Michael brings to the company more than 30 years of experience in global operations, supply chain and logistics in the consumer electronics sector,” said Peachey. “His advice has already been invaluable to us as we seek to drive efficiencies in our operations and look to opportunities in overseas markets.”
FiLIP is a colorful watch designed to keep parents and kids in touch. Kids can use FiLIP to make calls to up to five phone numbers selected by the parent. The parent is always in control via a smartphone app, and can use the app to locate, call or message their kids. Parents can receive notifications when FiLIP detects that the child has entered or exited pre-defined SafeZones. FiLIP also has a panic button to quickly put the child in contact with a family member in case of emergency.
Last month, Filip Technologies and AT&T entered into a three-year agreement to bring FiLIP to market in the U.S. AT&T is the exclusive provider of wireless connectivity for FiLIP in the U.S. for the duration of the agreement. FiLIP is currently available for purchase in the U.S. at www.myfilip.com and www.att.com/filip as well as at AT&T’s flagship store on Michigan Avenue, Chicago.
About Filip Technologies
Filip Technologies develops products and services designed to keep families in touch. Its products combine the two most important elements in family mobile offerings – communication and safety. The company’s flagship product, FiLIP, is a wearable smart locator and phone for kids. Previewed to rave reviews at CES 2013, its patent-pending technology combines cellular voice with geo-location capability in a device small enough to be worn on the wrist. Founded in 2010 by Sten Kirkbak after he briefly lost track of his young son Filip in a shopping mall, Filip Technologies is privately held with offices in London, U.K., New York, NY and Raleigh, NC. For more information please visit www.myfilip.com, like us on Facebook at http://www.facebook.com/myfilip or follow us on Twitter at @MyFilipTech.

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