Digital pen and software manufacturer Adapx closed $9 million in Series B financing led by UV Partners, with existing investors OVP Venture Partners and Paladin Capital Group participating. Paladin and OVP Venture Partners led Adapx’s Series A funding round in 2007, which totaled $10 million.
Adapx allows mobile teams to collect data in the field via digital pens and its Capturx software. The company says that more than 500 organizations are using its technology including the cruise line Holland America, the Port of Seattle, and NASA. Capturx’s software digitizes information as it’s written with digital pens that automatically integrate data into Microsoft Office, Autodesk, and ArcGIS. This allows mobile workers to share real-time field data and collaborate from the road. The pen looks and feels like a regular pen but it digitizes and electronically stores notes on a piece of paper using a sensor, memory, and image capturing technology.
Adapx says that it will use the new capital to create more products, expand to international markets, and boost sales and marketing efforts for its software and devices.