CartoDB, a company specializing in location data analysis and visualization, has raised $23 million in funding.
The Series B round was led by new investor Accel Partners, with participation from Salesforce Ventures (also a new investor), and existing investors Earlybird Ventures and Kibo Ventures. This takes the company’s total funding to $31 million.
Founded in 2012, CartoDB is a software-as-a-service (SaaS) platform that serves up geographic mapping tools to help businesses and designers create location-centric visualizations on the Web. It’s about creating meaningful maps out of lots of data.
With the advent of smartphones and other connected devices, “location” has become an increasingly powerful metric for understanding shifting trends and how different regions behave in different ways. This can, of course, be used by companies to better market themselves, and understand how consumers differ around the world.
“The market for location intelligence is snowballing,” said Javier de la Torre, CartoDB’s co-founder and CEO. “There are unprecedented opportunities for companies in virtually every industry to leverage this data in valuable ways, and we’re determined to help make it easy.”
While there are other similar companies and products out there, such as Tableau and Tribco’s Spotfire, as well as Esri’s ArcGIS and the mighty Google Maps engine (which is being shuttered next year), CartoDB pitches itself as a comprehensive, easy-to-use data analysis platform.
The $23 million cash influx comes a year after the New York-based company raised a $7 million round, and the combined funds will be used to “accelerate product development, increase global awareness of CartoDB solutions, and expand sales and partnership programs worldwide,” the company said in a press release.
VB’s research team is studying web-personalization… Chime in here, and we’ll share the results.