Total amount raised
$56 Millions
Latest funding date
6/1/2018
Location
DroneDeploy has successfully raised significant funding through multiple rounds, with notable investors such as Bessemer Venture Partners and Emergence Capital. The platform specializes in reality capture and drone mapping software, offering comprehensive site documentation and analysis.
Keep reading to explore the intricacies of DroneDeploy's fundraising journey and the investors backing this innovative platform.
What Is DroneDeploy?
DroneDeploy, founded in 2013, is headquartered in San Francisco, California. The company was established by Jono Millin, Michael Winn, and Nicholas Pilkington.
Specializing in reality capture and drone mapping software, DroneDeploy offers a comprehensive platform for site documentation and analysis. Their solutions cater to various industries, including agriculture, construction, and real estate.
With a team of 251-500 employees, DroneDeploy continues to innovate and expand its offerings, providing businesses with the tools needed for efficient and accurate data capture and analysis.
How Much Funding Has DroneDeploy Raised?
- Seed Round
- Amount Raised: $2M
- Date: September 2014
- Lead Investors: Uncork Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Series A
- Amount Raised: $9M
- Date: March 2015
- Lead Investors: Emergence Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: $20M
- Date: August 2016
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology.
- Series C
- Amount Raised: $25M
- Date: June 2018
- Lead Investors: Energize Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and new industry entry.
- Venture Round
- Amount Raised: ¥174.4M
- Date: October 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop product offerings and expand customer base.
- Series D
- Amount Raised: $35M
- Date: November 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand internationally and enhance product suite.
- Series E
- Amount Raised: $50M
- Date: February 2021
- Lead Investors: Airtree Ventures, Energize Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Series F
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and product development.
DroneDeploy has raised a total of $141M. The current valuation is not publicly disclosed.
Key Investors
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early to growth-stage companies. They have a long history of successful investments and a global presence.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Emergence Capital
- Details: Emergence Capital focuses on early and growth-stage enterprise cloud companies. They are known for their expertise in scaling enterprise software businesses.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: Salesforce, Zoom, Veeva Systems.
- Scale Venture Partners
- Details: Scale Venture Partners invests in early-in-revenue technology companies. They have a strong track record in SaaS, cloud, and mobile sectors.
- Investment Focus Areas: SaaS, cloud, mobile sectors.
- Notable Investments: Box, DocuSign, HubSpot.
- Energize Ventures
- Details: Energize Ventures focuses on digital solutions for energy and heavy industries. They aim to accelerate the digital transformation of these sectors.
- Investment Focus Areas: Energy, heavy industries.
- Notable Investments: Volta Charging, Aurora Solar, SparkCognition.
- AirTree Ventures
- Details: AirTree Ventures is a venture capital firm that invests in technology startups. They are particularly active in the Australian and New Zealand markets.
- Investment Focus Areas: Technology startups, fintech, consumer internet.
- Notable Investments: Canva, Prospa, Pet Circle.
What's Next for DroneDeploy?
DroneDeploy is poised to capitalize on a $6 billion global market for drone solutions, with the commercial drone market projected to reach $127 billion by 2020. The company plans to expand into new industries and international markets, driven by increasing demand for automated drone use and advanced analytics in sectors like construction, agriculture, energy, and mining.
Future fundraising opportunities seem promising, given the rapid market growth and DroneDeploy's strong track record. However, the company will need to navigate strict FAA regulations and fierce competition from other drone logistics and management firms. Continuous innovation will be crucial to maintaining their market leadership.
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