San Mateo, California -- Location tracking technology company Tile secured $18 million in its second round of institutional venture capital financing.
Tile has developed a tracking device and companion app that" makes losing valuable items a thing of the past."
The company uses Bluetooth low energy tags that users can attached to valuable items so that they can be traced if they go missing.
Bessemer Venture Partners led the round, which included previous investors Khosla Ventures, GGV Capital, Tandem Capital and Tencent Holdings.
Company said it would use the funding to ramp up manufacturing, and continue to hire and develop its technologies.