Orbital Insight Announces $50 Million in Funding to Secure Global 2000 Market Leadership
PALO ALTO, Calif., Nov. 12, 2019 (GLOBE NEWSWIRE) -- Orbital Insight, the leader of the geospatial analytics software industry, announced today the completion of a $50 million Series D financing. The funding round was co-led by Sequoia Capital and Clearvision Ventures, with participation from new investors Invicta Growth, Bunge Ventures Ltd, Chevron Technology Ventures, Goldman Sachs, Tech Pioneers Fund, and others. Returning investors include GV, Geodesic Capital, SKY Perfect JSAT, Intellectus Partners, and Lux Capital. Orbital Insight has now secured over $125 million of funding from these world-class investors and is positioned to increase its enterprise software market share among global corporations.
The new capital raised will be used to accelerate product innovation and expansion of the company’s software solution, Orbital Insight GO, which today provides decision-making analytics powering greater profitability, operations, and policies with geospatial applications. Current use cases include supply chain monitoring, real estate analysis, infrastructure mapping, and defense and intelligence.
“Artificial Intelligence and Commercial Space are two of the most exciting and innovative areas of our time,” said Orbital Insight CEO and Founder Dr. James Crawford. “We’re proud and excited to be able to continue to bring them together to serve our mission of understanding what is happening on and to the Earth. We’re putting the power of geospatial analysis into our customers’ hands, allowing them to ask and answer their own questions about trends and events anywhere in the world.”
Since Orbital Insight’s Series C funding round in 2017, the company continues to expand its multi-source geospatial offering to include optical satellite imagery, synthetic aperture radar (SAR), drone and aerial imagery, location-based intelligence, connected devices, vessel tracking (AIS), and other forms of geospatial data. The company also hired a new CFO, Jim Cook, and a new SVP of Product, Jens Tellefsen. It also created a federal advisory board including former NGA Director Robert Cardillo and former USGIF CEO Keith Masback bringing world-class domain leadership and GEOINT expertise to Orbital Insight’s commercial and public sector offering.
In May 2019, the company launched its Orbital Insight GO platform in the American, European, and Asian markets, experiencing a surge of demand from clients seeking trusted geospatial data to quickly, accurately, and economically analyze infrastructure, supply chains, commodities, and areas of interest pertaining to national security. Orbital Insight has also entered into strategic partnerships with firms such as Airbus to co-develop powerful change analysis and insights for Airbus Defense and Intelligence customers. The product today is trusted by leading financial services firms, Global 2000 companies, several U.S. government agencies, and global non-profit organizations.
“It’s easy to take it for granted, but we are living in the era of remote sensing and artificial intelligence,” said Bill Coughran, a partner at Sequoia and Orbital Insight board member. “Orbital Insight has transformed technology previously reserved for specialized government agencies into mainstream software to optimize organizational operations, revenue, and policies.”
About Orbital Insight
Orbital Insight leverages AI and computer vision to analyze petabytes of multi-source geospatial data, including satellite and synthetic aperture radar (SAR) imagery, location intelligence, and vessel traffic (AIS) data, to help its clients understand what is happening on and to the Earth. By monitoring the world’s geopolitical and economic activities with unprecedented timeliness, Orbital Insight provides the best possible information to inform your organization’s revenue, operations, and policies. For more information, please visit orbitalinsight.com.