Boundless Raises More Than $5M in Series B Funding Round
Motorola Solutions Leads Investment to Propel Growth of Open Source Geospatial Software and Services
-Boundless, the leading provider of open source “geospatial” software and services which use location-based mapping technology, today announced it has raised more than $5 million in Series B funding led by Motorola Solutions Venture Capital. Boundless’ existing investors, Vanedge Capital and In-Q-Tel, have participated in the round as well.
The funding will be used to continue investment in engineering and sales expansion to make powerful yet cost-effective, standards-based geospatial solutions accessible across industries. “Motorola Solutions leading this round of financing along with our original investors is a testament to the opportunity not only in geospatial software but in the potential of open source,” noted Andy Dearing, Boundless CEO. “We’re honored by the recognition of both our vision and results, and look forward to using this investment to continue delivering great value-added services and solutions to our customers in 2016.”
As companies and government agencies increasingly seek to unlock geospatial intelligence from their location-related data, they are looking to turn away from costly proprietary solutions toward open source solutions made freely available, which make it easy for developers to collaborate and advance the technology. Customers are adopting the OpenGeo Suite and collaborating with Boundless Professional Services to build robust solutions for demanding production environments without significant additional license costs. “Real-time mapping information is a powerful tool for our public safety and commercial customers who use it every day to respond to emergencies and deploy resources as quickly and efficiently as possible,” said Paul Steinberg, chief technology officer, Motorola Solutions. “Our customers are looking for solutions that turn mission-critical data into better outcomes for their businesses and agencies, and the open-source approach used by Boundless will help us deliver those innovations even faster.” “Organizations are recognizing the need to leverage open source software to reduce their costs while working with an experienced partner,” said Moe Kermani, Managing Partner of Vanedge Capital. “Boundless has done an excellent job growing both revenue and their customer base since we first invested, and we look forward to continuing to work with Andy and the management team to keep up the strong pace as OpenGeo suite expands into more Federal and Commercial accounts.”
About Boundless
Boundless develops and supports powerful software for enterprise Spatial IT applications. Boundless provides platforms for managing data and building maps and applications designed for bringing spatial information into modern workflows. The experts at Boundless reduce the cost and time of deploying and managing spatial software with packaging, support, maintenance, professional services, and expert training. Learn more at boundlessgeo.com.