Gail Chiasson, North American Editor
Western Technology Investment, Portola valley, California, is investing up to $3 million in debt to fund the growth of Scottsdale, Arizona-based Digital Caddies Inc., which provides on-course delivery of technology services and content to golfers
WTI, which has invested over $3 billion since its founding in 1980, specializes in providing growth capital to fund general business operations for early and late stage technology companies.
Mike Loustalot, president and director of Digital Caddies, says, “WTI and its approach to financing will allow our company to accelerate growth with minimal dilution. With a successful investment track record in some of the world’s leading technology networks including Google, Facebook, Juniper and Brocade, WTI is a welcome and important new addition to our funding equation.”
“We are impressed with the management team at Digital Caddies, its traction among the world’s leading golf companies, and the significant opportunity to bring modern day technology to golfers everywhere,” says David Wanek, partner at Western Technology Investment.
Digital Caddies tablets install easily on golf cars and connect wirelessly to the Web through Sprint’s nationwide 3G network, providing the golf course a broad portfolio of real-time course management tools via GPS-based golf car tracking and communications. These tools enable course operators to improve the golfer experience, manage pace of play and increase merchandise and concession sales via real-time promotions. Golf courses benefit from reduced operating costs by better tracking golf car inventory, managing driver behavior and forecasting agronomy issues.
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