Total amount raised
$86.5 Millions
Latest funding date
12/01/2021
Location
MetaMap has successfully raised funds through multiple rounds, with the last one being a Series B round closed on December 28, 2021. The company has been backed by 24 investors, including notable names like Sprint VC and Titan Capital.
MetaMap's acquisition by Incode Technologies on June 11, 2024, marks a significant milestone in its journey. Keep reading to explore the intricacies of MetaMap's fundraising journey and the investors backing this innovative platform.
What Is MetaMap?
MetaMap, founded in 2017 by Amaury Soviche and Filip Victor, is a customer identity platform headquartered in San Francisco, California. The company operates in various industries, including computer vision, consulting, identity management, and SaaS, with an employee count ranging from 251 to 500.
MetaMap helps merchants discover untapped potential by customizing to any data and workstream need. The platform provides comprehensive, accurate, and unique data in emerging markets, empowering merchants to extend more opportunities to more people. The company was acquired by Incode Technologies and continues to focus on scaling and differentiating services for developers and enterprises.
How Much Funding Has MetaMap Raised?
- Series B
- Amount Raised: $70M
- Date: December 2021
- Lead Investors: Tribe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand focus on emerging markets, enhance services in fraud prevention, identity verification, and credential sourcing.
- Series A
- Amount Raised: $13.5M
- Date: November 2020
- Lead Investors: Tribe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Seed Round
- Amount Raised: $3M
- Date: May 2020
- Lead Investors: Spero Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the platform and attract initial customers.
Total Amount Raised: $86.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Tribe Capital
- Details: Tribe Capital is a venture capital firm that uses data science to identify and invest in promising startups. They led MetaMap's $70 million Series B funding round.
- Investment Focus Areas: Technology startups, data science-driven investments.
- Notable Investments: Carta, Bolt, Relativity Space.
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage companies, particularly in the technology sector. They participated in MetaMap's Series B funding round.
- Investment Focus Areas: Early-stage technology companies, growth-stage technology companies.
- Notable Investments: SpaceX, Bird, Reddit.
- Alameda Research
- Details: Alameda Research is a quantitative cryptocurrency trading firm and liquidity provider. They were one of the investors in MetaMap's Series B funding round.
- Investment Focus Areas: Cryptocurrency trading, liquidity provision.
- Notable Investments: FTX, Serum, Solana.
- Titan Capital
- Details: Titan Capital is an investment firm that focuses on early-stage technology companies. They participated in MetaMap's Series B funding round.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Ola, UrbanClap, Razorpay.
- Jerry Murdock of Insight Partners
- Details: Jerry Murdock is the co-founder of Insight Partners, a global private equity and venture capital firm. He participated as an angel investor in MetaMap's Series B funding round.
- Investment Focus Areas: Growth-stage technology companies, software companies.
- Notable Investments: Twitter, Shopify, DocuSign.
What's Next for MetaMap?
MetaMap's future is brimming with opportunities, particularly in emerging markets where identity verification remains a significant challenge. The company plans to expand its operations in India, establishing a tech hub and increasing its staff significantly. This move aims to tap into the growing demand for digital trust and reputation management in sectors like FinTech, crypto exchanges, and marketplaces.
Given its impressive growth metrics, MetaMap is well-positioned for future fundraising opportunities. The recent $70 million Series B round, led by Tribe Capital, underscores investor confidence. As the company continues to scale, additional funding rounds could further accelerate its expansion and technological advancements.
However, MetaMap may face challenges such as navigating regulatory hurdles in new markets and managing the complexities of integrating fragmented databases. Despite these potential obstacles, the company's robust growth and strategic focus on emerging markets suggest a promising trajectory ahead.
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