Padcom secures $10 million in financing

Wireless connectivity software vendor Padcom yesterday announced an additional $10 million in equity financing from Liberty Partners that the company plans to use to expand product capabilities and market development efforts.

“This round of funding will help Padcom meet the exciting growth in market demand we’ve experienced during the past six months,” Padcom CEO Scott Stone said in a prepared statement. “We are seeing a major increase in the demand for secure, persistent network connectivity across multiple networks from our alliance partners, especially in utilities, field service and public safety, which have been our most active vertical markets.”