Three Roots Capital congratulates Zipit Wireless, a leader in IoT (Internet of Things) connectivity solutions based in Greenville, South Carolina, on its recent acquisition by Wireless Logic. Zipit’s journey from start-up to early-stage innovator to global player in the IoT market reflects our region’s vision, tenacity, and entrepreneurial spirit. While 3Roots has not provided direct financing to Zipit, our network and partnerships connect us to this success story in meaningful ways, making this an occasion worth celebrating.

3Roots is a Limited Partner in Meritus Ventures, L.P., which was established as the nation’s first Rural Business Investment Company (RBIC) in 2006 and initially invested in Zipit when the company was formed in 2007.  Meritus was co-founded and co-managed by 3Roots’ CEO Grady Vanderhoofven and Board Member Ray Moncrief, and Grady has been a member of the Board of Directors of Zipit for more than 15 years. This long-standing relationship underscores the importance of collaborative investment networks and the power of patient risk capital in fueling high-growth companies.

Our ties to Zipit extend beyond investment. Almost a decade ago, while an investor and member of the Board of Directors at GRIDSMART, Grady facilitated an introduction between GRIDSMART and Zipit. This introduction evolved into a lasting customer relationship, with GRIDSMART now among Zipit’s top clients. These kinds of connections exemplify the role 3Roots plays in cultivating a thriving entrepreneurial ecosystem: bringing together innovative companies, collaborative investors, and visionary entrepreneurial leaders to create opportunities that ripple across the region and even around the world. 

Today, we celebrate Zipit Wireless’ milestone as a reminder that when visionary entrepreneurs have access to the right relationships, resources, and capital, they can change industries and the world.