TrackingPoint hits target with funding round
Jun 12, 2014
American Business Journal
TrackingPoint Inc., a Pflugerville-based high-tech rifle maker, has completed a $29 million round of financing.
The company collected the capital to broaden its product beyond rifles to commercial drones and other applications, the Wall Street Journal reported Thursday.
TrackingPoint, which was founded in 2011, develops extreme long-distance rifles. In April 2013, it moved its headquarters from Austin to Pflugerville to build a $3 million, 500-yard ballistics testing lab, company executives said at the time.
Investors include Genesis Inventions LP, McHale Labs and GTP Holdings, the Journal reported. Austin Ventures LP lists TrackingPoint as one of its portfolio companies.
In December 2013, TrackingPoint reported receiving $4.1 million in financing from six investors, according to a filing with the U.S. Securities and Exchange Commission.
In May 2013, it named Jason Schauble as CEO. However, an SEC filing subsequently listed John Lupher as the company’s CEO and chief technology officer.
TrackingPoint reported revenue of $10 million in 2013, according to the Journal.