SAM Inc. fundraising reaches $122.5 million

Mar 17, 2014
Austin American Statesman

Austin-based Surveying and Mapping Inc. on Friday revealed new details about an investment by Austin Ventures and the company’s management team


An initial securities filing on Tuesday listed the amount the company raised as $36 million. But a new filing on Friday updated the amount raised to $122.5 million


The investment is the first outside funding for the surveying, mapping and geospatial solutions company, which is known in the industry as SAM Inc.


The deal marks the third time this quarter that an Austin-area company has raised more than than $40 million in venture capital. SolarBridge, a leading maker of microinverters, said last week it has raised $42 million for expansion


Founded in 1994, SAM Inc. has grown into one of the which is one of the largest surveying and mapping companies in this part of the country. The company has more than 700 employees, including 450 at its headquarters in Southwest Austin


SAM Inc. posted annual revenue of $127 million last year, compared with $71 million in 2011, officials said


The company has offices in Dallas, Houston, Denver and Columbus, Ohio and plans to open offices in Midland and St. Louis


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