Location Intelligence Platform CARTO Raises $61m

In New York, location intelligence platform CARTO has raised $61m in a Series C round of funding, which it will use to expand into verticals such as consumer packaged goods, retail, logistics and telecoms.

CARTO, which has additional offices in Madrid, Seville and London, employs a team of more than 150 experts in spatial analysis and GIS development. Its platform allows organizations to store, enrich, analyze and visualize their data for behavioural marketing, strategic store placements and a range of other purposes. Its Data Observatory gives enterprises access to thousands of public and 'premium' datasets, enhancing their spatial analysis with data such as POIs, human mobility and credit card transactions.

New funding was led by Insight Partners, with participation from the European Investment Fund, and existing investors Accel,Salesforce Ventures, Hearst Ventures, Earlybird and Kibo. George Mathew, MD at Insight Partners, comments: 'What CARTO brings to the market is a category-defining cloud native spatial data analytics solution. The platform's ability to provide actionable insights from data warehouses is helping CARTO pioneer a major frontier in geospatial analysis. Insight is thrilled to partner the tremendous team at CARTO on this exciting next chapter in the company's growth journey'.

The firm, which is led by CEO Luis Sanz (pictured), is online at www.carto.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.