BroadMap Announces Second Round of Funding

(Glen Allen, VA) August 17, 2010—BroadMap announced today that it has closed on its second round of funding, which provides capital for BroadMap to expand its operations to accommodate for its success in the enterprise market. This second funding round included investment from the core BroadMap leadership team and a strategic investment from Pattco Ventures, a privately held venture group based in Louisville, KY.

BroadMap is an emerging, results-oriented full-service GIS company specializing in providing government, non-profit and commercial business partners with custom-fit, turnkey geospatial solutions. Originally founded by industry veterans to address emerging broadband mapping needs, BroadMap is now a driving force in digital mapping products and services. They have recently launched their new flagship data product, MapConnect ™ Enterprise, a user-friendly GIS platform for enterprise customers.

Powered by its world-class GIS technology team, BroadMap has focused its strategy on a three-pronged approach to the market. First, BroadMap developed and launched MapConnect™ Enterprise. This enterprise-focused product has provided their customers with a high-quality base map platform that incorporates up-to-date census and postal boundaries. Second, BroadMap has developed customized solutions that focus on specific market needs, including their MapConnect™ Broadband product, which is being used by five States and three Territories to meet their broadband mapping needs. In turn, BroadMap's MapConnect™ Clearinghouse solution provides government agencies with a turnkey, web-based solution for managing their GIS assets. Finally, BroadMap has introduced their Service Bureau team, who focus on providing customers with customized GIS services based on their specific needs.

BroadMap is committed to providing cutting-edge solutions that ensure that their customers have the most up-to-date and highest-quality data solutions in the marketplace. With a committed focus on superior program management tools, quality procedures and business continuity methods, BroadMap provides a “one-stop shop” for the global market, while maintaining integrity, consistency and predictability of data services. BroadMap is uniquely equipped to help any enterprise customer with their diverse GIS challenges.

"Partnering with Pattco Ventures provides BroadMap with more than just capital. Pattco Ventures’ expertise in providing counsel to early-stage companies is incredibly valuable,” said Daniel Perrone, CEO of BroadMap. “BroadMap is experiencing tremendous growth in the enterprise market and looks forward to growing our organization to meet the needs of the business.”

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About BroadMap:

BroadMap provides government, non-profit and commercial business partners with custom-fit Geographic Information System (GIS) solutions. By matching the demand for innovative GIS solutions with an agile business model and visionary leadership, BroadMap continues its rapid growth by competing for and winning high-profile business.

Assembling top GIS talent to address our customers’ most pressing GIS needs has allowed BroadMap to generate new jobs and establish itself as both a community and market leader. BroadMap’s highly regarded technology team brings nearly 300 years of combined mapping experience across multiple industry sectors. This expertise allows BroadMap to enhance customer value through comprehensive, accurate and current digital maps and GIS solutions, while it continues to expand into data aggregation/verification, data conversion and consulting services.

BroadMap is headquartered in Glen Allen, VA, with a Technology and Sales office in Lebanon, NH.

About Pattco Ventures:

Founded in 1975, Pattco Ventures is a private investment firm located in Louisville, KY. Through a combination of direct and indirect funding vehicles, Pattco Ventures is a strategic investor in early-stage companies, and focuses on finding and investing in companies that have innovative technologies and business models. Pattco Ventures has made investments across the United States.

Media Contact:

Leslie Burns
Communications Manager
804-767-1576 direct
804-306-5803 mobile
Email Contact

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