CartoDB raises $23mm in Series B funding to bring location analysis and data visualization to the masses
Accel Partners leads round with participation from Earlybird, Kibo and Salesforce Ventures
10 SEPTEMBER 2015, NEW YORK, USA
Summary
CartoDB, the leading company for location data analysis and visualization, today announced that it has closed a $23 million Series B investment round, 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.CartoDB, the leading company for location data analysis and visualization, today announced that it has closed a $23 million Series B investment round, 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 CartoDB solutions, 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.”
Quotes
"The market for location intelligence is snowballing. 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." Javier de la Torre
"You shouldn’t have to be a data scientist to make use of location data. 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." Sergio Alvarez Leiva
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Download PDFAbout CARTO
CARTO leads the world of location intelligence, empowering any organization and individual to discover and predict key insights through location data. With CARTO’s intuitive location intelligence platform, analysts and developers build self-service location based apps that help optimize operational performance, strategic investments, and everyday decisions.
Founded in 2012 by a team of experts in geospatial development, big data analytics, and visualization techniques, CARTO is based in New York and Madrid, with additional locations in Washington D.C., London, and Estonia. CARTO has a team of 100 employees, a portfolio of 1,200 customers including BBVA, BCG, NYC, Twitter, and Vodafone and more than 200,000 users over the globe. The company is backed by investors such as Accel and Salesforce Ventures.