If you haven’t heard yet, Mapillary closed a financing deal of 68 million SEK ($8M) in Series A round. The round was led by Atomico, with participation from the previous backers Sequoia, LDV Capital, Playfair, and Wellington.
Founded in 2013, Mapillary is the best described as a service for crowdsourcing map photos. By collecting images from the public, the company provides an alternative open online map services. Currently the Mapillary has over 18 000 registered users and a database of over 50 million images from 170 countries.
“Our model is proven, for everyone but the extreme skeptics. It works. And now we want to scale up and do more,” – said Mapillary’s founder Jan Erik Solem in the interview with DiDigital.
This is the second investment large for Mapillary over the past year. In January 2015 the company took in over 12 million SEK ($1.5M) lead by Sequoia. The money will be allocated for developing core computer vision technology, increasing community activities, and improving service tools and applications