OpenGeo Completes $3 Million Series A Financing and Launches as Independent Open Source Software Company

NEW YORK, May 16, 2013 /PRNewswire/ -- OpenGeo, the creators of the OpenGeo Suite, the world's leading open source geospatial software platform, announced a $3 million Series A investment from Vanedge Capital of Vancouver, British Columbia. 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 OpenGeo Suite is widely 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 industry-leading 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," 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."

About Vanedge Capital
Vanedge Capital is a Vancouver, B.C. based venture capital fund focused on investments in interactive entertainment and digital media businesses. The fund managers have extensive experience and relationships in this sector and have built and led world-class companies in video games, computer animation and enterprise software, among others. For more information, visit www.vanedgecapital.com.

About OpenGeo
OpenGeo is the world leader for commercial open source geospatial software. Our global customer base uses the OpenGeo Suite, a complete open source geospatial web services stack, to deploy solutions for web mapping, transportation, telecommunications, open government and a huge range of other solutions. The OpenGeo Suite provides the best, continually updated geo web services platform along with maintenance agreements that include support and training. These agreements provide our customers with superior value and the growing functionality of continually enhanced open source geospatial software.

OpenGeo supports open source communities by employing key developers of PostGIS, GeoServer, and OpenLayers. We are committed to the ideals of open source and aim to bring the best practices of open source software to organizations around the world.

SOURCE OpenGeo