New funding enables market expansion and accelerates product development to meet increasing global demand for location intelligence and geospatial collaboration solutions.
Atlanta, GA (PRWEB) March 19, 2013
TerraGo, a leading global provider of location intelligence, geospatial collaboration and field data collection software solutions, announced today the successful completion of $5.5 million in financing to drive corporate growth and expedite product innovation strategies.
This financing comes on the heels of TerraGo’s strong 2012 performance, marked by increased product adoption, customer growth, international and commercial market expansion, significant investment in product research and development, and the successful acquisition and integration of fellow In-Q-Tel company Geosemble.
“The early success of TerraGo’s next-generation solutions, including 3D, mobile and systems for on-demand geospatial intelligence, are a testament to the strength of the location intelligence market opportunity,” said TerraGo President and CEO Rick Cobb. “This financing further demonstrates Terrago’s commitment to its customer base, and provides for rapid market expansion and the pursuit of new opportunities as the demand for technologies that exploit geospatial intelligence continues to grow.”
“We remain impressed by TerraGo’s track record of product innovation and strategic vision,” said Jonathan Perl, Managing Partner of Observatory Capital. “We are confident TerraGo is well-positioned to grow and extend its widely adopted geospatial collaboration solutions into new vertical and international markets.”
Participating in the round were current investors RedShift Ventures, CNF Investments and Observatory Capital, in addition to several new investors.
With a strategic group of partners, including leading systems integrators and software providers, and more than 1,000 global customers, including thought-leaders in defense and intelligence, crisis response, transportation and natural resources, TerraGo solutions enable organizations to discover, integrate and deliver location intelligence to the edge of the enterprise and back.
About TerraGo
TerraGo develops powerful location intelligence, geospatial collaboration and field data collection solutions that help the world’s leading defense and intelligence departments, government agencies and commercial enterprises achieve mission success. From news feeds, blog posts and social media to documents, maps and imagery, TerraGo allows organizations to discover location intelligence, integrate geospatial intelligence and deliver situational awareness to the edge of operations and back.
Founded in 2005, TerraGo developed some of the industry’s most widely adopted geospatial integration and collaboration solutions, based on its innovative GeoPDF® technology, and pioneered place-based data discovery and visualization through its acquisition of Geosemble in 2012. Find the location intelligence solutions that matter to your mission at http://www.terragotech.com.