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Digital Map Products Completes $3 Million Series C Financing

July 11, 2005
By: Richard Lin

Titan Investment Partners Backs Web GIS Software Innovator

COSTA MESA, Calif., July 11, 2005 – Digital Map Products (DMP), a developer of high-performance web GIS software, today announced it has closed a $3 million Series “C” financing, led by Titan Investment Partners LLC, a private equity and venture capital affiliate of the Relational Group. DMP plans to use the new resources to focus on growing its sales organization across the country, enhancing existing products, and developing solutions for additional markets.

DMP is at the forefront of the rapidly growing and evolving market for map-enabled software applications and next generation geographic information systems. The company has successfully combined the power of geospatial technology with the accessibility and convenience of Internet access to create finished solutions such as its flagship product CityGIS5™. This investment reinforces the strength of DMP’s software-as-a-service business model as an alternative to in-house development for this category. DMP’s applications target government agencies, utilities, realtors, home builders, land developers, and title companies.

“This is an important milestone for a technology company growing as fast as we are,” said Walt Stender, DMP’s CEO. “We will use this investment to accelerate DMP’s growth nationally and internationally. This partnership with Titan will also enable us to shorten the time-to-market for new applications. Our products and solutions will continue to make affordable, location-based-information and analysis available to everyone.”

Building on its commitment to deliver the benefits of its geospatial mapping technology to clients across the country, DMP recently announced new office openings in Seattle, Wash., Phoenix, Ariz. and Miami, Fla. The company is also gearing up to launch new land development software that optimizes the property acquisition process later this year.

“Titan Investment Partners is thrilled to be involved with an innovative company that is experiencing an impressive degree of success and growth,” said Steve Hamerslag, managing director of Titan Investment Partners. “DMP has done an excellent job of making the software-as-a-service model an efficient and cost-effective way for many industries such as local governments and real estate companies to use sophisticated GIS technology to improve business operations. We are pleased to be part of their nationwide expansion effort.”

Putting sophisticated geospatial technology at the fingertips of non-technical users, DMP’s applications arm its customers with a cost-effective way to easily access, create and maintain map-based data that is current and accurate. With clients such as Southern California MLS, Young Homes, Fieldstone Communities, The City of San Clemente and The City of Dana Point, DMP has more than 120 subscribing clients and 250,000 user sessions per month.

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About Titan Investment Partners LLC
Titan Investment Partners (TIP) seeks investments in developmental and later stage companies, leveraged buyouts, recapitalizations, restructurings and related situations where the combined expertise of the firm’s affiliated group can accelerate the creation and capture of value. The team is composed of operating executives that have a track record of managing all stages of corporate growth from startup to mature stages of public company growth. TIP is based in San Diego, CA and can be reached at (858) 704-3361 or on the web at www.tipfund.com.

About Digital Map Products
Headquartered in Costa Mesa, California, Digital Map Products, Inc. (DMP) is a developer and provider of web GIS software applications and next-generation geospatial systems to a wide variety of industries including government, building, land development, real estate, public works, and utilities. DMP is servicing these markets by combining the power of geospatial technology with the accessibility and convenience of Internet access to create finished product solutions. DMP’s products are built on the DigitalMapCentral platform, a flexible high-performance mapping application development platform in a hosted environment. DMP’s solution results in minimal overhead, rapid deployment, ease-of-use, and high performance. More information about DMP can be found at www.digmap.com.

For more information, please contact press@digmap.com