CARTO raises $61M to lead the way in cloud native spatial analytics
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Today we are delighted to announce the closure of a $61 million Series C round led by New York-based global venture capital and private equity firm Insight Partners with participation from the European Innovation Council (EIC) Fund as well as our existing investors Accel Salesforce Ventures Hearst Ventures Earlybird and Kibo.
Over the past few years we’ve seen rapid growth in a range of verticals, including Retail, CPG, Logistics, and Telecoms and we are excited to continue enabling users of modern analytics stacks to bring cloud native Location Intelligence to the enterprise (you can see some examples of how on our customer stories page with examples from Renault, JLL, Bumble and Mastercard).
With so many of our customers moving to the cloud, we’re proud to enable end-to-end analytics workflows using location data directly on top of the major cloud data warehouses. With support for Google BigQuery, Snowflake, Amazon Redshift, Databricks and PostgreSQL systems, we provide a fully cloud native approach to spatial analytics versus legacy GIS systems. This results in a more scalable and cost-effective solution for working with spatial data and adds an unrivalled level of interoperability through Spatial SQL.
Or as our board member George Mathew, Managing Director at Insight Partners puts it:
| This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 960401. |
