DroneDeploy, a leading enterprise drone data provider, announced raising $50 million in Series E funding. With this funding, DroneDeploy has now raised $142 million in total, the largest of any drone data firm.
The money invested will be used to broaden the company’s product offerings beyond aerial capture, hasten its entry into Europe, and look into potential strategic acquisition targets.
DroneDeploy enables the autonomous collection and analysis of visual data from job sites, activities, and assets using drones and ground-based cameras. Commercial drone use has become widespread among businesses, especially in light of COVID-19 and other social distancing regulations that have made distant, cloud-based solutions are crucial. DroneDeploy is a pioneer. By 2020, Fortune 500 firms in the fields of energy, agriculture, engineering, property, logistics management, and insurance had used DroneDeploy at a rate of adoption that was even higher than the market average of 259% annually.
“There are two strong tailwinds. Drone use in businesses is rapidly increasing. DroneDeploy is used by the largest companies in the energy, construction, logistics, and agricultural industries to operate fleets of hundreds of drones. We are opening an EMEA office to better serve our thousands of European users.
according to DroneDeploy CEO and CO-Founder Mike Winn. “At the same time, businesses are completely digitizing their websites and generating digital twins of all of their assets. Our drone technology has advanced to include the capacity to record and examine photos from manually or automatically operated ground-based cameras. To create settings that are completely immersive, we will keep improving our comprehensive digitization platform.
Investors are interested in DroneDeploy because of its momentum in product development and client successes. The strains on the labor, economy, and health that have emerged over the past year, according to John Tough, general partner of Energize Ventures and a director on the board of DroneDeploy, have accelerated asset owners’ adoption of drones and drone data.
“As companies increase their use of visual data to streamline processes, we predict further development. Energize is overjoyed to keep investing in DroneDeploy, the only business with a platform that records and analyzes every aspect of construction sites—inside and out, from any height or angle—and that has proven it has the scalability to serve the needs of rapidly expanding industries like energy and renewables.
The expansion of DroneDeploy into Europe, which is now its second-largest market, is of special interest to Stephen McIntyre, partner at Frontline Ventures in Europe. “As software buyers throughout the world catch up to those in the U.S., U.S. businesses have experienced remarkable growth abroad in recent years. To enter the European market for SaaS, Frontline Ventures partners with industry leaders. Due to its dominant position in the commercial drone sector in the United States and its quickly growing capabilities outside of drones, DroneDeploy is well-positioned to effectively cement its leadership position abroad.
Updates to the critical features 360 Walkthrough and Vertical Flight, which enable the visual data collection from cameras on the ground and drones flying vertically adjacent to a structure or object, have just been made by DroneDeploy. This is just one example of how the company is continuing to innovate to satisfy customers’ growing demands. With ISO-27001 accreditation and SOC 2 Type 1 attestation, DroneDeploy is able to maintain its position as the market leader in enterprise security. Contact one of their specialists or go to the DroneDeploy blog to learn more about DroneDeploy.
The top provider of enterprise-grade drone data is DroneDeploy. Trusted by brands all over the world, DroneDeploy collects every detail of job sites, buildings, and assets and converts it into valuable information for sectors like agriculture, energy, and construction. DroneDeploy offers expert mapping, 3D modeling, and reporting on any device, anywhere in the globe, using interior and exterior data acquisition.
FAQ’s
Mike Winn
Series E
$ 50 M
$ 142 M
259%
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