Map company secures funds - $400,000
to help market interactive off-road guide
A Wausau software company that sells interactive maps detailing
more than 100,000 miles of trails for snowmobilers and other
off-road travelers will announce today it has raised $400,000
in its first venture financing round.
U.S. Trailmaps Inc., which finished second in the 2006 Wisconsin
Governor's Business Plan Contest, pulled in the funding from
Fitchburg-based Kegonsa Seed Fund.
The financing followed a $160,000 commitment the company received
in July from individual angel investors.
"Our dream is, say they get all the snowmobile trails
-- that you can whip out your cell phone on the trail and find
the three nearest liquor stores or restaurants and their phone
numbers," said Ken Johnson, general partner at Kegonsa
Seed Fund.
In the next few years, the type of content available will differentiate
wireless phone companies rather than phone features and accessories,
Johnson said. He says it's likely the phone companies will be
buying the kind of information that U.S. Trailmaps offers.
U.S. Trailmaps will use the money from both financing rounds
to more aggressively pursue the $600 million recreational vehicle
market, and also to expand into hiking, camping, hunting and
fishing, said Eric Antonson, the company's vice president of
operations.
"This latest investment will help U.S. Trailmaps break
out and become more of a regional and even national player in
that market," said Tom Still, president of the Wisconsin
Technology Council.
"They've got strong technology, an identifiable niche,
and I think this funding is really going to help them crack
into the cell phone carrier market and become a service that's
available virtually anywhere there's cell phone coverage."
U.S. Trailmaps, founded in January 2005, has nine employees
and produced revenue in 2005, Antonson said.
The company has mapped more than 7,000 miles of summer all-terrain
vehicle trails in Wisconsin, and more than 100,000 miles of
snowmobile and winter ATV trails in Wisconsin, Michigan and
other states, including parts of the East Coast and the Western
U.S. The interactive maps also give information about businesses
like gas stations, lodging and restaurants near the trails.
U.S. Trailmaps sells its mapping software via CDs or its Web
site at www.ustrailmaps .com, and buyers can download the information
to GPS units.
Antonson and several others plan to exhibit their products
at upcoming snowmobile product trade shows in seven Eastern
states, including Maine and New York, he said.
The two big digital mapping content providers for streets and
highways are Navteq and Tele Atlas, Antonson said. He says U.S.
Trailmaps isn't aware of any companies making interactive trail
maps.
"We're playing in a really big market that's not been
penetrated well," he said.