February 15, 2011
Saltus Technologies Receives $400,000 in Funding from Tulsa Investment Firm
Funding will support the continued growth from demand for electronic ticketing software
Tulsa, Okla. – Saltus Technologies, the Tulsa-based developer of the mobile electronic ticketing solution digiTICKET, today announced it has received an additional $400,000 in funding from investment firm Mimosa Tree Capital Partners.
“We are excited about the investment by Mimosa Tree,” said Eric Fultz, President and CEO of Saltus Technologies. “As we introduce digiTICKET to law enforcement agencies across the country we have been receiving a tremendous response. The growth we have experienced along with the size and number of opportunities we have identified is beyond our initial estimates.”
Since February, Saltus has increased its staff by more than 50 percent and anticipates growing by another 50 percent or more over the next six to nine months.
“This investment will allow us to grow and expand into even larger markets,” Fultz said. “We are fortunate to be affiliated with Mimosa Tree and the extensive resources they bring to our team. We look forward to growing the business and capitalizing on opportunities as they arise.”
The funding will be used to accelerate new software development and support the company’s already impressive growth and customer success. The demand for digiTICKET continues to grow as more public safety agencies understand the power of mobile technologies and the positive financial impact it can have on their organizations. digiTICKET has created significant opportunities for Saltus in North America and internationally.
Mimosa Tree Capital Partners is a Tulsa-based investment firm with a proven track record of funding and growing emerging companies. Mimosa Tree boasts an impressive portfolio that includes serving as the sole investor in several successful technology based businesses.
"Mimosa Tree is thrilled with the success of digiTicket and Saltus,” said Vince LoVoi, Managing Partner, Mimosa Tree Capital. “We focus on improving our communities: this company helps law enforcement be more productive and safer. That's a win-win for all of us."
LoVoi and his partner at Mimosa Tree are excited about the growth of digiTicket and Saltus Technologies and looks forward to the opportunities that will come in the future.
“Mr. Fultz and his team at Saltus continue to exceed our expectations with digiTicket and with the growth of the company,” said Joel Kantor, Managing Partner, Mimosa Tree Capital. “We could not be more pleased to provide additional funding and we look forward to supporting the company's growth over the next several years.”
About Saltus Technologies
Saltus Technologies is dedicated to developing and marketing mobile electronic ticketing solutions to law enforcement, government agencies and the private industry. Electronic ticketing can create an attractive return on investment when replacing the process of handwritten tickets. The leaders of Saltus Technologies bring a heritage of mobile software development dating back to 1997. For more information, visit www.saltustechnologies.com.