Charlotte-based technology growth equity firm Frontier Capital announced today that it will invest $15 million in iMapData, a McLean, VA-based provider of geospatial and analytics software for government agencies and commercial businesses. The money wil be used to provide liquidity for investors in iMapData and to expand the business.
The full announcement is here:
Frontier Capital Completes Growth Investment in iMapData Inc.
MCLEAN, VA – July 9, 2012 – Frontier Capital is pleased to announce its investment in iMapData Inc. (“iMapData”), a decision support solution company serving the government and commercial markets.
Based in McLean, Virginia, iMapData provides a turnkey software-as-a-service (SaaS) platform to drive business and operational decisions through the visualization and analysis of a variety of proprietary, public, licensed, and customer-provided data. The iMapData platform aggregates over 1,000 data layers, including geospatial, industry, and social media information, and currently serves government agencies including the military, law enforcement organizations, operations centers, and large commercial organizations.
The company will continue to be led by founders Larry DeFranco, President and CEO, Diane DeFranco, COO, and Bill Lilley, Chairman. Frontier’s $15 million investment provided liquidity for investors and growth capital to support the company’s continued expansion.
“iMapData’s core competencies are well-aligned with a number of attractive growth opportunities,” said Andrew Lindner, Managing Partner of Frontier Capital. “We’re excited to partner with Larry, Diane, and Bill to expand upon the success that iMapData has experienced in enabling its customers to carry out mission-critical tasks.”
“Our partnership with Frontier enables iMapData to expand its offerings which combine the best data with leading technology,” said Larry DeFranco. “We are particularly excited that Andrew and his team bring outstanding knowledge and resources to continue our growth”.
The iMapData investment builds on Frontier’s long-standing expertise in technology enabled business services. The transaction closed on June 30, 012 and marks the fourth platform in Frontier’s Fund III and 31st investment since 1999. Sagent Advisors, LLC served as financial advisor to iMapData.
For 30 years, iMapData has helped government and commercial organizations quickly make intelligent, data-driven decisions. Using iMapData’s web-based applications, clients easily correlate their information with the company’s vast library of cleaned and regularly updated data to clarify complex scenarios and reach actionable conclusions. Each iMapData solution is uniquely tailored to the client’s needs, incorporating the most relevant geospatial data sets and analytical functionality to deliver meaningful results. For more information, call (866) 650-4627 or visit www.iMapData.com.
About Frontier Capital
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit FrontierCapital.com.