SpaceVest Exits Venture Investment in Analytical Graphics, Inc.
VC Backed Software Developer Becomes Leading Provider of COTS Aerospace Analysis Tools
SpaceVest, a venture capital firm that invests in companies leveraging advanced technologies to provide solutions for rapidly growing markets, today announced a redemption transaction resulting in greater than 10 times return on its original investment in Analytical Graphics, Inc., (AGI) an Exton, Pa.-based developer of software for land, sea, air, and space analysis.
SpaceVest’s A Round funding of $2.5 million in 1995 and $2 million debt financing in 1999 helped AGI establish itself as the standard bearer in providing analysis and visualization tools that support national security and space professionals who work in battlespace management, geospatial intelligence initiatives, space operations and national defense programs.
“We helped grow the company from 30 employees when we first invested to the thriving company of almost 250 employees that it is today,” says John Higginbotham, managing director of SpaceVest who served on AGI’s board from 1995 until earlier this year. “AGI is a great example of the kind of portfolio company we seek. It’s a high performing company with a superior business model, compelling technological solutions and a quality management team.”
Paul L. Graziani, president and chief executive officer, and Scott Reynolds, chief software architect, founded AGI in 1989 with a third partner. The company’s success has been built on STK, its flagship, commercially available analysis and visualization software suite that is now used by more than 30,000 aerospace, defense, and intelligence professionals worldwide. STK analyzes and translates raw data into manageable information by producing analytically correct, dynamic 2-D and 3-D graphics.
The STK software suite offers government, civil, and commercial customers a revolutionary approach to complex aerospace analysis. In recent years, AGI has moved beyond STK to create additional products to meet market needs.
“Our growth could not have been possible without the financial backing and management support of SpaceVest,” says Graziani. “Our products ultimately have to stand the test of the marketplace and they’ve done this because we develop unique, cost-effective, off-the-shelf analysis software that’s continually improved and backed with excellent technical support and training.”
For more than a decade, SpaceVest has invested in both early and expansion stage companies that are positioned for leadership in rapidly growing market sectors.
About SpaceVest
SpaceVest is a high-performing venture capital firm that invests in companies leveraging satellite, communications, semiconductor and networking technologies to provide compelling solutions for rapidly growing markets. Since its founding in 1995, the team has developed a deep understanding of how to build successful advanced technology companies, as proven by outstanding portfolio companies. Its strong network within national research centers allows unique access to groundbreaking technologies that satisfy critical customer needs. The firm is a trusted partner and has developed strong co-investment relationships with other top venture capital firms and industry leaders. SpaceVest currently manages approximately $270 million for global limited partners. For information, visit www.spacevest.com.
About AGI
Since its founding in 1989, AGI has enjoyed high growth and has been named to numerous prestigious lists, including the Inc. 500, Technology Fast 50, Technology Fast 500, Philly 100, and Softletter Top 100. Named the 2004 #1 Small Company to Work for in America (Great Place to Work® Institute and the Society for Human Resource Management), AGI has also been recognized as one of the “best places to work” in Philadelphia (Philadelphia Magazine), the Delaware Valley (Delaware Valley Child Care Council), Pennsylvania (Great Place to Work® Institute), and the United States (Mademoiselle magazine top 25). Internationally, AGI is recognized as one of the top 100 companies in the military training industry (Military Training Technology) and one of the top 50 space companies in the world (Space News). For more information, visit www.agi.com.
