A new round of DroneDeploy funding adds $50 million to the company, bringing the total to date to $142 million: which a company release says is the most to date for any drone data company. This latest Series E funding round is the result of DroneDeploy’s explosive growth (they report a 259% annual growth in enterprise use in 2020) and impressive user base.
The announcement itself demonstrates DroneDeploy’s evolution. Founded in 2013, DroneDeploy was then described as a drone mapping platform – but it has rapidly expanded to include far more features and capabilities than “mapping” describes. DroneDeploy now offers solutions from data gathered from ground level cameras in addition to drones: and they’ve added layers of data analysis. In this latest announcement, DroneDeploy describes their organization accurately as a leading enterprise drone data company.
“We see two powerful tailwinds. Enterprise use of drones is exploding. Across the globe, the largest agriculture, logistics, and energy companies are operating fleets of hundreds of drones, and they are using DroneDeploy to manage them. To support our thousands of European users, we are launching an EMEA office,” said Mike Winn, CEO and co-founder of DroneDeploy. “At the same time, companies are digitizing their sites inside and out, creating full digital twins of their assets. We have expanded our drone technology with the ability to capture and analyze images from ground-based cameras operated by people or robots. We will continue to enhance our complete digitization platform to deliver fully immersive environments.”
DroneDeploy plans to continue to expand their product portfolio and look at acquisition opportunities. “The health, economic and workforce pressures of the last year have accelerated the adoption of drones and drone data by asset owners,” said John Tough, managing partner of Energize Ventures and a director on DroneDeploy’s board. “We anticipate continued growth as industries expand their use of visual data to streamline operations. Energize is thrilled to continue to invest in DroneDeploy, the only company with a platform that captures and analyzes every dimension of job sites — interior and exterior, from any height and angle — and that has demonstrated the scale to meet the needs of fast-growing markets like energy and renewables.”
The company also plans to expand into Europe, which is already DroneDeploy’s second largest market. i“U.S. companies have seen unprecedented growth overseas in recent years as software buyers around the globe catch up with those in the U.S. Frontline Ventures works with SaaS market leaders to break into Europe. DroneDeploy’s position as the leader in the U.S. commercial drone market and its rapidly expanding capabilities beyond drones position it to successfully solidify its leadership position internationally,” says Stephen McIntyre, partner at European-based Frontline Ventures.