Founded in 2003, Retail Solutions Inc (RSi) is a subsidiary of VeriSign. It is a software company based in Mountain View, CA that provides software-as-a-service products for data management, reporting and business intelligence, and point of sale applications. The company started out selling radio-frequency identification (RFID) software before moving into its current business. VeriSign acquired RSi in 2005. Founded in 2003 as T3Ci, the company started out selling radio-frequency identification (RFID) software before moving into its current business. Wal-Mart had required all of its suppliers to place RFID tags with electronic product codes on their products in 2003. Jonathan Golovin, Richard Swan, Peter Rieman, and Shantha Mohan decided to start a company that would analyze the data from RFID tags. Later that year, T3Ci, which stood for “The Tag Tracking Company, Incorporated,” was founded. T3Ci developed software that would read and understand electronic product code (EPC) data, allowing the information to be used by retailers and their suppliers (mostly CPG companies) to improve sales. In October 2004, T3Ci received funding of $9.4 million in a Series A round from Venrock, Red Rock Ventures and SAP Ventures. In 2005, it received a Series B round of $8.8 million led by Bessemer Venture Partners. Early in 2005, T3Ci and Procter & Gamble signed an agreement for developing and exploring RFID and EPC technology in the supply chain. The company subsequently opened an office in Bentonville, Arkansas, while expanding its operation in California. T3Ci processed its billionth RFID tag read in February 2007, and by the end of the year, T3Ci had over thirty customers, including four of the top five CPG manufacturers.[which?] The company also claimed that revenues had grown 150% from the previous year.