A new round of funding for DroneDeploy will add $ 50 million to the company, bringing the total to $ 142 million. According to a company publication, this is the most current for any drone data company. This latest Series E funding round is the result of DroneDeploy’s explosive growth (259% annual growth in corporate usage in 2020) and impressive user base.
The announcement itself shows the development of DroneDeploy. DroneDeploy was founded in 2013 and was then described as a drone mapping platform. However, it was quickly expanded and now offers far more functions and capabilities than the “mapping” describes. In addition to drones, DroneDeploy now also offers solutions based on data captured by ground cameras. Data analysis layers have also been added. In this latest announcement, DroneDeploy accurately describes its organization as a leader in enterprise drone data.
“We see two strong tail winds. The use of drones in companies is exploding. The world’s largest agricultural, logistics and energy companies operate fleets with hundreds of drones and manage them with DroneDeploy. To support our thousands of European users, we are opening an EMEA office, ”said Mike Winn, CEO and Co-Founder of DroneDeploy. “At the same time, companies are digitizing their websites inside and out, creating fully digital twins of their assets. We have expanded our drone technology to include the ability to record and analyze images from ground-based cameras that are operated by people or robots. We will continue to improve our entire digitization platform to provide fully immersive environments. “
DroneDeploy plans to further expand its product portfolio and examine acquisition opportunities. “Health, economic and workforce pressures over the past 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 the board of DroneDeploy. “We expect continued growth as industries expand their use of visual data to streamline operations. Energize is excited to continue investing in DroneDeploy, the only company with a platform that captures and analyzes all dimensions of construction sites – inside and outside, from every height and angle – and demonstrates the scalability to meet the needs of a rapidly growing business to become markets like energy and renewable energies. “
The company also plans to expand into Europe, which is already DroneDeploy’s second largest market. i “US companies have seen unprecedented growth overseas in recent years as software buyers around the world keep pace with those in the US. Frontline Ventures works with SaaS market leaders to penetrate Europe. DroneDeploy’s position as a leader in the US commercial drone market and its rapidly growing capabilities beyond drones enable it to successfully consolidate its international leadership position, ”said Stephen McIntyre, Partner at Frontline Ventures in Europe.