OpenGeo Completes Financing, Launches as Independent Company
OpenGeo, the creators of the OpenGeo Suite, an open source geospatial software platform, announced a $3 million Series A investment from Vanedge Capital of Vancouver, B.C. Simultaneous with the funding, the company has spun out from its incubator parent, OpenPlans, and is boosting OpenGeo’s product and customer-support initiatives.
The OpenGeo Suite is used for managing and sharing spatial data. OpenGeo will use this Series A funding to enhance its product and training offerings and reach a broader array of customers.
Moe Kermani, partner at Vanedge Capital, noted, "OpenGeo has developed an impressive customer roster who are using its product offerings in mission-critical software applications. The paradigm shift toward web and mobile geospatial services is well underway and is permanently altering the Spatial IT landscape. We believe this shift heavily favors open source and the OpenGeo Suite, which is ideally situated to become the de facto geospatial platform."
The Vanedge-led investment enables OpenGeo to complete its separation from tech incubator OpenPlans, which founded OpenGeo in 2002.
"We are proud that our incubation with OpenPlans has been so successful," said Chris Holmes, OpenGeo’s founder. "We look forward to growing our contributions to open source communities as a dedicated open source geospatial software company."