Battery Ventures Makes Significant Investment in Latitude Geographics
BOSTON, Oct. 03, 2017 (GLOBE NEWSWIRE) -- Battery Ventures, a global, technology-focused investment firm, announced it has made a significant investment in Latitude Geographics Group Ltd., a Victoria, B.C.-based provider of web-based mapping software and related Geographic Information System (GIS) capabilities. Specific terms of the deal were not disclosed.
Latitude develops software called Geocortex that helps customers maximize the potential of their investment in web mapping technology made by Esri, the world leader in GIS whose software is the most powerful mapping and spatial data analytics technology available. Latitude’s business centers on government customers, as well as industry sectors like energy and public safety, and is focused on making it as easy as possible for organizations to deliver mapping and GIS technology to their end users. The company was founded in 1999.
“We are extremely excited to partner with Battery, a firm with a long history of helping software firms like Latitude reach their potential,” said Steven Myhill-Jones, Latitude’s CEO. “Additionally, I think Battery’s interest in the mapping/GIS space through its investment in fellow-Esri partner AED-SICAD in Germany demonstrates the firm’s long-term strategic commitment to the GIS market. Battery’s resources and expertise will help us grow and expand Latitude even more internationally; we look forward to working with their team.”
Latitude’s technology “was extremely attractive to us, as was the company’s growing and diverse set of customers,” said Battery Partner Morad Elhafed, who led the investment. “Global GIS is a multi-billion dollar market that has demonstrated consistent growth across all verticals over the years. Given its deep alignment with leading GIS vendor Esri, Latitude is well-positioned to benefit from and help drive ongoing developments in GIS.”
Battery Ventures’ private equity team has invested in many industry-specific software companies like Latitude, a category of companies which generally offer customers highly specialized products as well as high-quality support and services. Current investments include AED-SICAD, Alogent, Clubessential, ClearCare, Concurrent Real-Time, CrunchTime, DrillingInfo, Enviance, Forterro, Newforma and WebPT*.
*For a full list of Battery investment and exits, please visit: https://www.battery.com/our-companies/list/.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Tel Aviv and London. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
Latitude Geographics believes that geography empowers people to make vastly better decisions about the world around us; we help them accomplish this with Geocortex mapping software and services. In use by more than 1400 organizations around the world, Geocortex technology helps our customers operate more efficiently, communicate more effectively, and improve their decision making. Our technology is designed specifically and exclusively for use with Esri’s ArcGIS® platform; as an Esri Platinum Partner, we are focused on helping clients maximize the return on their investment in core Esri technology.
VP, Marketing Communications