MapAnything raised $42.5 million
The location of things (LoT) market — which comprises technology that enables developers to make use of geographic data — is projected to be worth $71.6 billion by 2025, driven by the proliferation of connected devices, high-speed networks, and personalized services. Mapping and navigation apps like Google Maps, Uber, and Waze made up 32.6 percent of the global LoT sector in 2017, followed closely by manufacturing, asset management, marketing, and industrial platforms. But they’re only the tip of a sizeable iceberg.
MapAnything (formerly Cloudbilt) wants to power them all — and with a nine-year start and fresh capital under its belt, it’s well on its way. The Charlotte, North Carolina-based startup today announced that it has raised $42.5 million in a Series C funding round led by GM Ventures — General Motors’ investment arm — and Emerge executive chairman Andrew Leto, with participation from existing investors Salesforce Ventures, Greycroft, Harbert Growth Partners, and David Stern.