Location data company CartoDB raised a fresh $23 million in new funding to grow its data visualization services, the company announced today.
CartoDB, which launched in 2012, combines data with maps to created insightful, visualized analysis that can show everything from where support for presidential candidate Donald Trump is strongest to which areas in the Netherlands had the most stolen cars to the global Twitter engagement during the UEFA Champions League Final.
An ideal tool for the evolving, data visualization-heavy approach to journalism, CartoDB’s products are also being deployed for business. The company’s location intelligence offerings have been used by Amtrak, The Royal Bank of Scotland, Deloitte, and others.
“We build the technology that helps organizations construct value from location data,” said CartoDB founder and chief executive Javier de la Torre. “We are helping them explore and take advantage of their data.”
According to the company, the series B investment will be used to continue to develop its location-focused analysis tools and to push into the global marketplace — both areas in which a leader in location intelligence has yet to emerge to take advantage of the explosion in mobile device usage over the past decade. The $23 million funding round was led by Accel Partners, with Salesforce Ventures, as well as prior investors Earlybird Ventures and Kibo Ventures also taking place in the round.
“This is a very exciting time for the company, especially with one of the top investors in the world [Accel] being involved,” de la Torre said of the new investment. “It sends a clear message about the future of location intelligence as a market. It is something we’ve seen more and more companies looking to take advantage of.”
One interesting aspect of the new funding is the involvement of Salesforce’s investment arm. Having one of the largest business SaaS companies not only want to use your product but to financially back you further validates CartoDB’s data visualization mission.
CartoDB raises $23M to expand its data visualization tools originally published by Gigaom, © copyright 2015.
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