Total amount raised
$61 Millions
Latest funding date
08/01/2021
Location
SafeGraph has successfully raised significant funding through multiple rounds, with its latest round being a Secondary Market round that closed on August 1, 2021. The company is backed by a diverse group of 35 investors, including Akkadian Ventures and Alexander Rosen.
SafeGraph's data products, such as Places, Geometry, and Rich POI Attributes, are designed to enhance geospatial analytics across various industries. Keep reading to explore the intricacies of SafeGraph's fundraising journey and the investors backing this innovative platform.
What Is SafeGraph?
SafeGraph, founded in 2016 by Auren Hoffman and Brent Perez, is a prominent player in the analytics, AI, and machine learning industries. The company is headquartered in Denver, Colorado, and employs between 51 and 100 people.
Specializing in geospatial data, SafeGraph builds and maintains data sets that accelerate machine learning and AI. Their high-precision places data covers business listings, building footprints, and aggregated foot traffic data for millions of points of interest (POI) and thousands of brands in the US and Canada.
How Much Funding Has SafeGraph Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 5, 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at initial business setup and early-stage development.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: January 17, 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at providing additional capital for early operations and growth.
- Series A
- Amount Raised: $16M
- Date: April 19, 2017
- Lead Investors: Ridge Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand dataset offerings.
- Series B
- Amount Raised: $45M
- Date: March 16, 2021
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To capitalize on the expanding market for places data and enhance data delivery mechanisms.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: August 1, 2021
- Lead Investors: Akkadian Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at providing liquidity to early investors and employees.
Total Amount Raised: $61M
Current Valuation: Not publicly disclosed
Key Investors
- Akkadian Ventures
- Details: Akkadian Ventures is a venture capital firm that focuses on providing liquidity solutions to early investors and employees of high-growth companies. They have a portfolio of 46 organizations with a total funding amount of $53.4B.
- Investment Focus Areas: Technology, software, high-growth companies.
- Notable Investments: SafeGraph.
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm with over $5.7 billion in assets under management. They invest in innovative startups and technology-focused venture funds globally.
- Investment Focus Areas: High-growth technology companies, innovative startups, venture funds.
- Notable Investments: LinkedIn, Box, Square.
- Ridge Ventures
- Details: Ridge Ventures is a venture capital firm that invests in early-stage enterprise software companies. They focus on helping startups scale and succeed in competitive markets.
- Investment Focus Areas: Early-stage companies, enterprise software, technology.
- Notable Investments: Fastly, Discord, Braze.
- DNX Ventures
- Details: DNX Ventures is a venture capital firm specializing in early-stage B2B startups. They support companies that are driving innovation in various industries.
- Investment Focus Areas: Early-stage B2B startups, technology, innovation.
- Notable Investments: Auth0, DroneDeploy, Vymo.
- Peter Thiel
- Details: Peter Thiel is a well-known entrepreneur and venture capitalist, co-founder of PayPal and Palantir Technologies. He is renowned for his early investments in groundbreaking technology companies.
- Investment Focus Areas: Technology, innovation-driven companies, data-driven companies.
- Notable Investments: Facebook, SpaceX, Palantir Technologies.
What's Next for SafeGraph?
SafeGraph stands at the cusp of significant growth opportunities, driven by the expanding global market for location intelligence, projected to reach $32.8 billion by 2027. The company plans to leverage its recent $45 million funding to expand internationally, starting with the United Kingdom, and to develop new data delivery mechanisms. This expansion is expected to attract more data buyers from sectors like logistics, retail, and GIS technology.
Future fundraising rounds are likely, given SafeGraph's efficient use of capital and strong investor interest. The company’s strategic positioning and robust growth metrics make it an attractive candidate for further investment. However, challenges such as regulatory scrutiny over data privacy and competition from other location data providers could pose hurdles. Maintaining data accuracy and navigating diverse regulatory environments will be crucial for sustained success.
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