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Funding for Geo Spreads to the Enterprise

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Apisphere, a Berkeley-Calif.-based startup that’s found itself in the middle of the current geo-location craze, has raised $4.6 million in funding. The funding, which came to light through an SEC filing today, is not attributed to a specific backer, but CEO Craig Harper had reportedly been responsible for bankrolling the company since it was founded in 2006. We’ve contacted the company to learn more and will update the post if and when we hear back.

Apisphere has explored a variety of location-based mobile services, starting with tracking salespeople. It now generally focuses on being a location-aware platform for enterprise applications through integrations with Salesforce (s CRM) and Outlook (s MSFT) — and in that sense would compete with Draper Fisher Jurvertson-backed Wavemarket — but also works on mobile marketing and sells a consumer GPS device for geocaching called Geomate.jr at retail (which came out of its 2008 acquisition of Navit Innovations).

4 Responses to “Funding for Geo Spreads to the Enterprise”

  1. Steven Knox

    You are right Liz. You are the only writer who noticed that Craig Harper has been funding the company the past four years (with two others who put in a small amount of this Series A filing). Most of that money has been spent, and when the company laid off most of their executives and staff in April, 2009, to reduce the $200k monthly burn down to $50k, it was because $3+m had already been spent.

    This filing was likely an attempt to make people think they have money going forward. Apisphpere may have a little of the $4.6m left. But it’s likely all Harper’s and is mostly gone. What VC wants to put money into a company when the founder has spent so much and has so little? This is a move to game the market impressions of the company.