CartoDB Closes $23M Series B Round
NEW YORK, NY, CartoDB, the leading company for location data analysis and visualization, today announced that it has closed a $23 million Series B investment round.
The round was led by new investor Accel Partners, with additional participation from new investor Salesforce Ventures and existing investors Earlybird Ventures and Kibo Ventures. The investment brings CartoDB's total funding since launch to $31 million. It will be used to accelerate product development, increase global awareness of CartoDBsolutions, and expand sales and partnership programs worldwide. As part of this investment, Harry Nelis of Accel joins the CartoDB Board of Directors.
Location intelligence helps organizations and individuals comprehend the world around them to improve their businesses and lives respectively. However, it is not yet used to its full potential, as most analysis and visualization solutions have highly-complex user interfaces and require specialist skills to operate. CartoDB has quickly evolved from its origins as a digital mapping startup to an easy-to-use and comprehensive data analysis solution. It aims to democratize the industry so that anyone can harness location intelligence to better understand the world, markets, customers and events taking place around them.
'The market for location intelligence is snowballing,' said Javier de la Torre, CartoDB co-founder and CEO. 'There are unprecedented opportunities for companies in virtually every industry to leverage this data in valuable ways, and we're determined to help make it easy. We're thrilled to have the support of our community and investors to extend our reach and bring this value to more markets.'
Since launch, CartoDB has experienced rapid growth and in the last 12 months has:
Become enterprise ready and grown adoption by 250 percent, with a client roster including names like Amtrak, Axa, BBVA, Deloitte, Google Trends, Mexico City, National Park Service, New York City, Royal Bank of Scotland, and Twitter.
Increased individual customer adoption by 350 percent, generated 2.5x the number of live maps each month, and delivered 2.6x the number of monthly map views.
Doubled its number of employees and opened its global headquarters in Brooklyn, New York.
'You shouldn't have to be a data scientist to make use of location data,' said Sergio Alvarez, CartoDB co-founder and Chief Product Officer. 'We're building something radical and creating the easiest mapping tool, which taps into the analytical left and creative right sides of the brain with a seamless user experience.'
Harry Nelis, Partner at Accel, said, 'We have been extremely impressed by the CartoDB founding team's depth of expertise, and how they've been able to change the historically complex GIS analytics market into something that any business analyst can navigate. As location data becomes a core and distinct category within business intelligence, there is a significant opportunity for their unique product, and we're excited to help them seize it.'
CartoDB leads the world of location intelligence and data visualization, empowering any organization and individual to extract valuable insights from location data. CartoDB transforms layers of geospatial information into data driven maps that enable visual discovery of trends and patterns to make better, faster decisions. CartoDB's technology is used together with big data and real-time systems to develop custom location intelligence applications. CartoDB's self-service web platform allows anyone to effortlessly connect location data to gain insights through simple analysis and visualizations with no coding skills. CartoDB is spearheading the democratization of location intelligence, permitting anyone in industries such as financial, government, journalism, education, and scientific to map and understand their world's data in a more meaningful way. CartoDB launched in 2012 and is headquartered in New York. See more at cartodb.com.
Accel is a leading early and growth-stage venture capital firm, powering a global community of entrepreneurs. Accel backs entrepreneurs who have what it takes to build a world-class, category-defining business. Founded in 1983, Accel brings more than three decades of experience building and supporting hundreds of companies. Accel's vision for entrepreneurship and business enables it to identify and invest in the companies that will be responsible for the growth of next-generation industries. Accel has backed a number of iconic global platforms, which are powering new experiences for mobile consumers and the modern enterprise, including Atlassian, BlaBlaCar, Dropbox, Etsy, Facebook, Flipkart, Funding Circle, Kayak, QlikTech, Simplivity, Slack, Spotify, Supercell, World Remit and others.
Salesforce Ventures - Salesforce's corporate investment group - invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit salesforce.com/ventures.
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