tirsdag 23. mars 2010

Life360 aquires item recovery service Foundog

Life360, an online platform of safety and security widgets used to protect your family, today announced it has acquired item recovery service Foundog for an undisclosed amount. The acquisition will help support Life360’s item recovery services for corporate customers.
Life360 offers various widgets that allow customers to pick and choose which they would like to use to protect their families. Widgets like Emergency Messenger, which help to keep in touch with family during emegencies or disasters, or Life360ID, which helps to provide the right care during a medical or missing child emergency.
The Foundog acquisition plays into the company’s Lost & Found widget, which offers customers the option of marking their important items, mostly technology-based like a cell phone or laptop. Foundog uses a special adhesive eTriever tag that when found can be easily returned to the owner. Who ever finds the lost item can visit the website, register the eTriever tag, receive a pre-paid shipping box and send the item back to the owner. An added finders reward provides an incentive for following the return process – rewards range from $10 to $1,000 shopping sprees. More information on rewards can be found here.
The company does have several competitors spanning across different technologies and industries, including PhoneHalo, an automated loss prevention system, which recently launched at DEMO and notifies you when your valuables are left behind or stolen. It also helps to retrieve them.
The company notes that it’s backed by both Google and Facebook. Specifically, Life360 won $275,000 in Google’s 2008 Android Developer Challenge. The company was also part of the first class of fbFundREV, an incubator program supported by Facebook, Accel Partners, and Founders Fund. Life360 recently closed a round of funding for $750,000 backed by LaunchCapital, Seraph Group, Founders Fundand angel investor MarkGoines.
Companies: Foundog, Life360

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