FortiusOne Closes Series B Investment Round
Emerging Leader in Intelligent Web Mapping Poised for Growth
May 16, 2007
FortiusOne, Inc., an emerging leader in next-generation web mapping services, today announced it has closed a $5.45 million Series B funding round, with participation by In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the mission of the Central Intelligence Agency (CIA) and the broader Intelligence Community; Chart Venture Partners, a venture fund focused on the homeland defense and security sector; and seed round investors New Markets Growth Fund and Walker Ventures. The funds will be used to expand business operations, and to commercialize and further develop FortiusOne’s breakthrough Intelligent Mapping technologies.
FortiusOne is driving forward with next-generation Intelligent Web Mapping technologies that provide rich information visualization on maps with unprecedented access to geographic data. Going beyond pushpins for layering the locations of people, places, and things, Intelligent Maps help people answer questions, gain insights, and make decisions. For example, you can find the best neighborhoods for your personal preferences, discover centers of support for political candidates, or decide where to reach concentrations of your ideal target customers by simultaneously visualizing large number of geographic attributes, from crime rates and population demographics to weather incidents and pollution.
“FortiusOne is leading the way to the next generation of web mapping, building on one of the hottest areas of the Web today,” said Troy M. Pearsall, In-Q-Tel’s Executive Vice President of Technology Transfer. “In-Q-Tel invested in FortiusOne because it offers users a new capability to significantly enhance critical decision making. With its ability to combine complex massive data sets with intuitive, web-enabled visualization, FortiusOne’s technology allows users to make fully-informed decisions faster.”
“We see a tremendous opportunity to expand FortiusOne’s business into commercial markets,” said Cole Van Nice, partner at Chart Venture Partners. “We expect FortiusOne will follow a trend in the industry of innovative geospatial technology companies emerging from the defense sector to become commercial market leaders.”
“We are very pleased to close this round with such a strong investor group,” said Sean Gorman, founder and CEO of FortiusOne. “We believe their participation represents an endorsement of our progress towards achieving our mission to make the world’s geographic information accessible and usable by everyone.”
About FortiusOne, Inc.
FortiusOne is driving toward the next generation of Web mapping with breakthrough Intelligent Map technologies that offer rich information visualization on maps and unprecedented access to geographic data. FortiusOne’s GeoIQ Web service platform enables developers to build Intelligent Mapping applications that empower people to explore, create, and share geographic data and build Intelligent Maps that help answer questions, gain insights, make decisions, and solve problems. For more information, visit www.fortiusone.com.
About Chart Venture Partners
Chart Venture Partners (CVP) concentrates its investments in the homeland defense and security sectors, with an emphasis on dual-use technologies of interest to the government and commercial sectors. The rise in government spending in homeland defense R&D is stimulating a corresponding increase in technology breakthroughs in need of early stage venture funding. These technologies will be developed by CVP to meet global market demand. For more information, visit www.chartventure.com.