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May 28, 2007
TerraGo Goes Forward with Venture Capital Financing
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TerraGo Goes Forward with Venture Capital Financing
by Susan Smith
TerraGo Technologies announced recently that they have raised $6.3 million by way of a Series A round of financing led by venture capital firm RedShift Ventures, along “with participation from CNF Investments, the private equity and venture capital arm of Clark Enterprises, Inc. and In-Q-Tel, the independent strategic investment fund that identifies innovative technologies to support the missions of the Central Intelligence Agency (CIA) and the larger U.S. Intelligence Community,” according to the
TerraGo is responsible for creating its geospatial distribution and collaboration format, GeoPDF, a one-of- a-kind PDF based data distribution and collaboration solution. GeoPDF leverages the Adobe Acrobat PDF standard and Adobe Reader which is installed on millions of computers worldwide. GeoPDF allows users, both geospatial and non-GIS, to easily distribute intelligent, interactive georegistered mapping data in the PDF format.
According to James C. Davis, president and CEO of TerraGo, the new investment will allow the company to do some things faster. “It really allows us to accelerate a number of things we’ve been working on for some time,” said Davis. “We’ve been growing independent of this investment based on our own ability to invest in the company. We spun out of Layton Graphics in July 2005, a year and 10 months or so ago, and we’ve gone from 10 employees to 40 plus employees. This will allow us to be able to grow even faster and invest in people and other things.”
The main thing you’ll see us doing is expanding our product teams, adding more people from a development standpoint, quality control people, and technical product managers,” said Davis. “They will allow us to speed up projects that we have under way as well as be able to work on more projects at the same time. We’ve got a pretty complete product vision of where things are going, and this will allow us to get further on that vision faster. We’ll also be adding the infrastructure support for customer support for all of our operations etc. and also we’ll expand our sales and marketing teams to be able to get our message to more folks and allows us to
accelerate selling internationally.”
TerraGo has some customers in countries outside the U.S., but has not marketed internationally up to now.
From a product direction, Davis noted that they are seeing more interest in using GeoPDF as a collaboration platform. Last year TerraGo introduced the ability for users who have just the Reader product to be able to make markups and comments and be able to export those out as shapefiles. GeoPDF is also being used and evaluated n the emergency management area.
The possibility of collaboration has grown as Adobe has expanded and the Reader 9 platform that was released this year strengthened some of the horizontal functionality of collaboration.
A number of users use GeoPDF for markups and comments nearer real time. It becomes a way to synchronize collaboration both in a connected and disconnected mode. “That’s the beauty of the PDF file -- that it provides a static foundation of the GIS data. If when you are making markups and comments, you do have a connection that allows you to, you can do that collaboration in near real time. We’re seeing more users using this so we’ll be looking at how that’s used in our early use cases.”
TerraGo has been working with RedShift Ventures (RSV) for some time now. RSV is an early stage venture capital firm focused on commercializing advanced technologies that provide compelling solutions for rapidly growing markets.
TerraGo has garnered a customer base in both the commercial and government marketplaces, as well as utilities and other private enterprises.
Top News of the Week
LocatioNet Systems Ltd., a provider of mobile mapping and location applications, and
DigitalGlobe, the provider of the world’s highest-resolution imagery and geospatial information products, announced a partnership that adds DigitalGlobe’s global satellite imagery to the amAze mobile service.
This collaboration means that for the first time, worldwide voice-guided GPS navigation is enabled over high resolution satellite imagery and aerial photos on mobile phones with either external or internal GPS receiver.
Leica Geosystems Geospatial Imaging announced that it has acquired all assets of
Earth Resource Mapping Ltd
(ER Mapper), a geospatial software company headquartered in Australia. ER Mapper is a world-class provider of geospatial imagery processing solutions that prepare, manage, compress and deploy imagery, thus complementing Leica Geosystems’ existing product portfolio.
Pictometry International Corp., a leader in digital, aerial oblique imagery and easy-to-use measuring software systems, and
MapMart, an IntraSearch Company, announced that MapMart is now a Value Added Reseller (VAR) of Pictometry's images for its business customers. MapMart is a professional services firm specializing in geographic information systems (GIS) solutions for both public and private sector clients. Under terms of the agreement, MapMart can offer its business customers in architecture and engineering, insurance, financial services, oil and gas, legal services, and commercial real estate, the ability to purchase Pictometry's oblique aerial images using Pictometry's Server-to-Server solution.
1Spatial and QC Data announced a partnership to provide an innovative data quality solution for the UK and Irish utilities marketplace. The partnership unites industry knowledge, technical expertise and innovative technology to deliver a combined software and services solution for data quality auditing and improvement. Utility organizations working in gas, electricity, water or telecommunications in the UK and Ireland can now take advantage of this pioneering approach.
SRC, LLC, a developer and provider of geographic business intelligence technology and solutions, announced a strategic relationship with
Experian Business Strategies. Targeting retail, restaurant and real estate businesses, Experian Business Strategies provides solutions to improve the customer’s ability to forecast accurately for enhanced retail performance. Experian Business Strategies has selected SRC’s geographic business intelligence technology to give clients accelerated application deployment, streamlined access and increased control over their customized modeling solutions. This partnership will give users the ability to quickly analyze what drives certain consumer and market behaviors and quantify the impact of "real world" variables on their bottom line.
TENET is pleased to announce a new partnership with
Open Spatial Australia. Open Spatial will be the master distributor of TENET’s MapRite Positional Accuracy Improvement solution in Australia and New Zealand.
TENETs MapRite is the UK market-leading PAI solution provider, based upon an established product technology proven in over 100 organizations, including Local Authorities, Utilities and Central Government, for the re-alignment of assets and the continued management for superior data quality. MapRite is a robust, scalable solution with the lowest cost of ownership for Positional Accuracy Improvement.
NAVTEQ’s Map Network announced that it has been chosen by the Smithsonian as part of an effort to enhance consumer outreach and engage Smithsonian visitors before their trip. Using Map Network’s customized, location-based content, visitors are able to navigate Washington, D.C. ’s collection of museum artifacts and landmarks in rich detail with the click of a mouse. The full collection of maps can be seen
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