Rave Wireless, developer of mobile applications tailored to university campuses, raked in $7 million in a fourth round of funding to continue work on software to heighten student security. Bain Capital Ventures, Sigma Partners and RRE Ventures contributed to the round.
The Framingham, Mass.-based company already has a portfolio of apps for use by students. The Rave Guardian allows them to transmit their location and safety status to campus police at any time from anywhere. On the other end of the spectrum, Rave Alert gives school administrators the ability to broadcast text, email or voice messages regarding campus security to their whole student bodies at once. And its Rave Campus offering is actually a suite of applications allowing for instananeous updates on a range of campus and comunity information — a suite that schools can add their own applications to for a campus-specific experience.
To date, Rave has raised about $42 million, the most recent round amounting to $18 million last year from Trilogy Equity Partners. The company is looking to expand its services to companies as well as universities.
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