DroneDeploy, the industry’s leading enterprise drone data business, announced today that it has successfully received $50M in Series E investment.
Existing investors Energize Ventures and AirTree were the primary drivers of this funding round. Additional participation came from Bessemer, Scale, Emergence, AngelPad, Uncork, and Frontline Ventures.
As a result of this financing, DroneDeploy has raised a total of $142M so far, making it the most successful drone data firm to date as per drone series 142msawersventurebeat.
The funding will be put to use in expanding the company’s product offerings to include more than only aerial capture, speeding up the company’s development into Europe, and investigating potential options for strategic acquisitions.
DroneDeploy provides the capacity necessary for drones and ground-level cameras to autonomously gather and analyze visual data from operations, job sites, and assets. Companies in practically every industry have begun to embrace the use of commercial drones, which is particularly noteworthy given that COVID-19 and other worldwide social distancing measures have necessitated the use of distant, cloud-based solutions.
The industry has been driven by DroneDeploy, which has achieved a growth rate of 259% annually in business usage in 2020 and even larger acceptance by Fortune 500 organizations in the fields of energy, agriculture, engineering, property and logistics management, and insurance.
There are Two Strong Tailwinds that are Blowing.
Drones are becoming increasingly popular in business settings. DroneDeploy is the platform that the world’s leading agriculture, logistics, construction, and energy firms are utilizing to manage their fleets of hundreds of drones. These companies are located all over the globe.
“We are opening an EMEA office to better serve the tens of thousands of customers that we have in Europe,” said Mike Winn, the CEO, and co-founder of DroneDeploy, “At the same time, businesses are digitizing their locations from the inside out, therefore producing complete digital twins of their assets.
Our drone technology has been upgraded to include the capability of capturing and analyzing photos from ground-based cameras that may be controlled either by humans or by robots. We will keep working to improve our comprehensive digitization platform so that we can provide completely immersive surroundings.
Important News On drone dronedeploy 50m
Investors are showing interest in DroneDeploy because of its recent success in product development and client acquisition. “The health, economic, and workforce pressures of the last year have accelerated the adoption of drones and drone data by asset owners,” said John Tough, managing partner of Energize Ventures and a director on DroneDeploy’s board of directors. “The health, economic, and workforce pressures of the last year have accelerated the adoption of drones and drone data.”
As businesses across all sectors increase their reliance on visual data to improve operational efficiency, we predict further growth.” “DroneDeploy is the only company with a platform that captures and analyses every dimension of job sites — interior and exterior, from any height and angle — and that has demonstrated the scale to meet the needs of fast-growing markets like energy and renewables,” Energize said in a statement. “Energize is thrilled to continue investing in DroneDeploy, the only company with a platform that captures and analyses every dimension of job sites.”
The expansion of DroneDeploy into Europe, which is now the company’s second-largest market, is of special interest to Stephen McIntyre, a partner at Frontline Ventures, which has its headquarters in Europe. “In recent years, U.S. businesses have enjoyed growth worldwide comparable to that of none other as software purchasers in other countries catch up with those in the United States.”
Frontline Ventures collaborates with the leaders in the SaaS market to expand into Europe. The fact that DroneDeploy is currently in the number one spot in the commercial drone market in the United States and is rapidly expanding its capabilities into other areas gives it a good chance of successfully consolidating its leadership position internationally.
DroneDeploy is the industry leader when it comes to enterprise-grade drone data. DroneDeploy, a company that is trusted by companies all over the world, is able to record every aspect of job sites, structures, and assets and then translate that data into relevant insights for a variety of sectors, including agriculture, energy, and construction. DroneDeploy is able to offer professional mapping, 3D modeling, and reporting on any device, in any location in the globe by capturing data from both the interior and exterior of a building.