Smith Micro, a McCandless-based software developer, ended the summer by securing a $15 million raise.
Cofounder and CEO Bill Smith told Technical.ly the funding came by leveraging a relationship with an unnamed long-time investor. He said the influx of cash puts the company, which develops white-label services for the mobile industry, on track to follow through with a host of upcoming projects and safety applications.
“This money will also give us a strong runway for several growth initiatives underway as we finish out of Fiscal 2022 and helps us build momentum for a great 2023,” Smith told Technical.ly in an email.
Among the company’s products is its SafePath platform, an app technology to “connect the family digital lifestyle.” Its services include parental control for screen time, location tracking and collision detection.
As it heads toward its 40th anniversary, Smith Micro counts 380 employees around the world, including 125 based in Pittsburgh.
The platform already includes T-Mobile’s FamilyMode, and is slated to include Verizon’s Smart Family and AT&T’s Secure Family, all apps for managing children’s smartphone use, in the future. Smith said the recent SafePath 7.0 upgrade puts Smith Micro on track to be able to offer families a variety of options to keep themselves safe and secure in the digital age.
“We believe that SafePath is the leading platform for managing the Digital Family Lifestyle, with premier location services, parental controls and drive detection all under one app,” Smith said. “With the launch of these apps on SafePath 7.0, there will be even more features and functionality to an already robust application.”
As it heads toward its 40th anniversary this coming November, Smith Micro counts 380 employees all over the world, including 125 based in Pittsburgh. Although Smith predicts that the funding will allow for additional growth for the company, no matter how large it gets, the plan is to keep calling Pittsburgh home for the foreseeable future.
Why? According to the CEO, it’s the affordable cost of doing business, the city’s budding tech industry, the talent pool — and the improbability of natural disasters.
“Pittsburgh’s strategic geographic location and attractive business climate were other major draws for us,” Smith said. “Compared to California or major East Coast cities, the cost to live and do business in Pittsburgh is exponentially less. Plus, we don’t have to worry about natural disasters like earthquakes in Pittsburgh, which gives us a very safe environment to host a data center.”
Atiya Irvin-Mitchell is a 2022-2023 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supportedby the Heinz Endowments. -30-