CartoDB, an all-in-one web mapping and geospatial platform has secured $8 million Series A funding led by Earlybird. Existing investors Kibo Ventures and Vitamina K also participated.
Earlybird Venture Capital is today announcing its investment in CartoDB, the leading all-in-one web mapping and geospatial platform. The $8 million Series A funding was led by Earlybird, with participation from existing investors Kibo Ventures and Vitamina K. The funds will be used to continue the growth of the company’s community and to become a geospatial standard on the web. CartoDB will continue to grow in both its New York and Madrid locations, but will solidify New York as the company headquarters.
CartoDB is a cloud based open-source mapping platform for everything from simple visualizations to complex but highly scalable geospatial applications and analytics. The company’s focus is not on base maps (e.g. google maps, Nokia Here, Mapbox) but on the data and application layer on top of maps. CartoDB is backed up by a rapidly growing grass¬roots community, which constantly contributes to the quality and quantity of available data and applications on the platform. Users can access the platform through a simple editor or an API for more advanced functionalities.
“By knowing that ‘everything happens someplace’ you can begin to imagine maps that will help people understand the world in many new and useful ways,” said Javier de la Torre, CEO and Founder of CartoDB. “We want to get CartoDB into the hands of everyone who is ready to map their data, so we brought in Earlybird to gain from their expertise in building communities and technology simultaneously.”
CartoDB has over 50,000 users and over 100,000 active map applications on the platform. Over the last 12 months, they has witnessed 300%+ y-o-y growth in the number of active users and data sets contributed to the platform each month, putting the company on track to become a geospatial standard of the web. With its current offering CartoDB is addressing every major industry and active at the intersection of the $2.5bn market for geography information systems, the $4.2bn data visualisation market and the $7.5bn market for location based services.
“If you are thinking of designing an interactive map on the web, we want you to think CartoDB first. If you are thinking of developing a location-based mobile app, we want you to think CartoDB first. If you are thinking of creating a real-time dashboard, we want you to think CartoDB first,” said Sergio Alvarez, VP of Product and Co-Founder. “The geospatial capabilities of our platform combined with the ability to add beautiful design to yours maps is helping to make CartoDB ubiquitous.”
The platform is not only accessible to data scientists, but is democratizing the application layer so it becomes accessible to a much broader audience. Since releasing in early 2012, CartoDB has become a daily tool in the workflows of countless global news desks (e.g. Los Angeles Times, The Guardian), government agencies (e.g. National Park Service, City of Buenos Aires), sales and business intelligence teams (e.g. REA Group), and even educators (e.g. Stanford, CUNY). CartoDB is currently in use at every major Ivy League university and is being taught in curriculums from high schools to advanced degrees. It is through commitment to building a product that spans a diversity of users and providing materials that support education that the company hopes to speed up the geospatial revolution.
Established in 1997 Earlybird has raised over €700 million ($900 million) in fund commitments. We have backed 100 companies, some of which have sparked significant innovations in business and technology and resulted in large scale ($1bn+) IPOs and trade sales. Earlybird backs European companies with global ambitions and our active portfolio currently includes 31 companies across the consumer Internet and enterprise services space.
Further information is available at www.earlybird.com, Twitter: www.twitter.com/earlybirdvc, LinkedIn: www.linkedin.com/company/earlybird-venture-capital or Facebook: www.facebook.com/EarlybirdVC.