Securus, a market-leading technology company in GPS products based in Cary, is tracking down investors.
The company has raised $2.23 million since launching a fund-raising effort on June 25.
Securus hopes to raise $3 million, according to an SEC filing.
Securus, Inc. makes CatchAThief GPS locators. They are small – only about the size of a matchbox – but they’re yielding big results for N.C. State.
Police can hide the devices on “bait bikes” and set up a “safe zone.” If the bike moves out of that zone, police quickly receive an e-mail or text alert and can track the device online with turn-by-turn directions.
“At any university, the major crime is theft,” Campus police Capt. Barnwell told WRAL News in an interview last year. “It’s the theft of anything of value, including bikes.”
The technology was originally developed at Securus to track lost pets, but the company continues to find new uses for GPS tracking.
“Our CEO actually uses it with his kids to track his kids,” said Jock Johnston, a spokesman for the company. “He knows when they get on the bus, when they get to school, when they leave school.”
Several products are already on the market, with many more still in development stages. There’s a device for children with special needs or adults with dementia or Alzheimer’s disease who may wander away from home.
The tracking is web-based, so users can keep tabs on their loved ones from a computer or a phone.
“Typically the alert comes within 30 seconds,” Johnston said. “It will tell you where they are, how fast they are traveling.”
Parents can even set the devices to alert them if their teen is driving over the speed limit.
Products range in price from $150 to $250 and have a monthly service charge, typically about $15. They are accurate within 10 feet, Johnston said.