InterAct completes $28 Million equity financing

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Winston: InterAct911, parent company of InterAct Public Safety Systems, has closed a $28 million equity round of capital financing led by new investors Foundation Capital and Bay Partners. The round saw participation from existing investor SilkRoad Equity also. Plans for the current round of capital include a significant expansion of InterAct's worldwide direct sales and marketing efforts, strategic acquisitions and new product development. Warren Weiss, general partner of Foundation Capital, and Eric Chin, general partner of Bay Partners, will join the company's board of directors. InterAct is a provider of comprehensive public safety and homeland security solutions for private sector businesses, as well as local, state, national and international government agencies. InterAct's suite of mission critical applications include a Next Generation 911 phone system; multi-agency, scalable computer aided dispatch (CAD), mapping and mobile data sharing systems; as well as digital video surveillance and emergency notification systems. "Safety and security technology, both public and commercial, remains the highest procurement requirement worldwide," said Ted Collins, president and CEO of InterAct. "Keeping pace with evolving standards, including video, text messaging, and VoIP is essential to effectively respond to any threat. This investment enables us to serve a far broader audience worldwide," he added. PJ Doyle, president of CJIS group, a market research firm states, "The expectation that Next Generation 911 systems will allow the use of text messages and phone video as part of the 911 call is increasing." He adds, "These same Next Generation applications will enable public safety answering points (PSAPs) to save money and accommodate the continued need for interoperability and data sharing through virtual consolidation."