We are excited to announce the close of $23 million in Series B financing to expand CartoDB’s mission, enabling anyone to map their world’s data and leverage the power of location. The funding is led by Accel Partners, with participation from Salesforce Ventures as well as our earlier investors, Earlybird and Kibo Ventures. We also warmly welcome Harry Nelis from Accel as a new board member.
This moment is truly important because it sends a strong message about the location intelligence revolution as renowned investors validate our position and direction in this growing market. I would like to acknowledge the hard work done by many people in the company in the process — you guys rock!
The investment will go to strengthen all areas of the company, but will focus on these areas in particular.
- Product development — more functionalities to benefit the broader market
- Data science team — R&D will increase to build on new location intelligence analytical capabilities
- Business development — 3rd party data, and product integrations
- Marketing & Sales — to increase reach, awareness, and customers across different regions and industries
The world is producing location data faster than ever. Although data analytics have become widely available, only a few organizations and individuals can extract value from them. At CartoDB we are working on products that will make data accessible to anyone: small and large organizations, scientists, journalists, and anybody looking to extract insights and tell stories with that data.
This is a very exciting market and it is growing very quickly. It is impressive to look back and see so many different organizations and individuals using CartoDB. We have a ton of work ahead to realize the vision of location intelligence for everybody, and now we are in a better position than ever to make it happen.
Thank you to every user, client, developer, partner, and friend who has helped us get here today. We wouldn’t be here if it weren’t for you!
Javier de la Torre, CEO and co-founder