Back in June, Mapbox received their Series B round of $52.55M. With that, Mapbox has turned up their development on just about everything and had a grand old-time at the Esri UC buying just about every advertising space outside the San Diego Convention Center. At the time Eric said:
We’re creating the building blocks for a complete mapping stack. This extends way beyond a map.
Today CartoDB has announced their Series B:
We are excited to announce the close of $23 million in Series B financing to expand CartoDB’s mission, enabling anyone to map their world’s data and leverage the power of location.
This moment is truly important because it sends a strong message about the location intelligence revolution as renowned investors validate our position and direction in this growing market. I would like to acknowledge the hard work done by many people in the company in the process — you guys rock!
Spatial IT is hot stuff right now. That’s about $75M in Series B funding in little over 2 months. Bubble? Probably not as you can’t really say either company hasn’t developed a business and has important clients. 5 years ago there were much more spatial startups running around trying to get money, from GeoIQ and SimpleGeo to WeoGeo1 and Geoloqi all received some funding but ended up being acquired mostly for staff or client lists. CartoDB and Mapbox are of a different beast and their sustainability has been rewarded by large investments.
So what’s going on with CartoDB now? It appears they’re going to continue investing in the core product and make it bigger and easier to work with. I’m excited for them, the elephant is going for a ride!
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Good times ↩