CartoDB, a location data analysis startup has raised $23 million in Series B round of funding led by Accel Partners along with Salesforce Ventures and existing investors Earlybird and Kibo Ventures.
The Spanish company founded in 2012 brings together data with maps to create insightful, visualized analysis that can show everything from the strongest points of the presidential candidate Donald Trump to the country with highest theft rate to Twitter engagement during the UEFA Champions. As a smart tool for the evolving, data visualization-heavy approach to journalism, CartoDB’s products are being implemented in business. They are being used by Amtrak, The Royal Bank of Scotland and many other top companies.
“We build the technology that helps organizations construct value from location data. We are helping them explore and take advantage of their data,” said CartoDB founder and CEO Javier de la Torre. “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 are determined to help make it easy. We are thrilled to have the support of our community and investors to extend our reach and bring this value to more markets,” he added.
The users can try the CartoDB platform for free and the private data options for developers starts from $29/month and goes up to $9,900 for enterprise plans a year. The tools are so simple that anyone can use it. “You shouldn’t have to be a data scientist to make use of location data. We are 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,” said Alvarez.
CartoDB plans to use the new funds to boost product development, increase global awareness of CartoDBsolutions and increase sales and enter partnership programs worldwide.
Further to the investment, Harry Neils of Accel joins the board of directors of CartoDB. Nelis said, “We have been extremely impressed by the CartoDB founding team’s depth of expertise, and how they have 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 are excited to help them seize it.”