[May 23, 2013] OpenGeo Secures $3 Million Series A Financing, Launches as Independent Open Source Software Company Tweet May 23, 2013 (Close-Up Media via COMTEX) -- 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, British Columbia. According to a release, simultaneous with the funding event, the company has spun out from its incubator parent, OpenPlans, and is boosting OpenGeo's product and customer-support initiatives. "We are thrilled to be working with Vanedge," said Eddie Pickle, OpenGeo CEO. "The Vanedge team understands the huge opportunity in the geospatial software space. Their investment is very timely given the tremendous demand for open source, Spatial IT solutions among government and commercial enterprises worldwide." The Company added that the OpenGeo Suite is used for managing and sharing spatial data. OpenGeo has led the industry shift toward flexible, interoperable geospatial software infrastructures and will use this Series A funding to further 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." OpenGeo noted that 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," noted Chris Holmes, OpenGeo's founder. "We look forward to growing our contributions to open source communities as a dedicated open source geospatial software company." Vanedge Capital is anventure capital fund focused on investments in interactive entertainment and digital media businesses. More Information: www.vanedgecapital.com. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]