SAN FRANCISCO, Nov. 13, 2019 /PRNewswire/ -- DroneDeploy,
the leading enterprise-grade drone software solution, today
announced it closed a $35 million
Series D round led by Bessemer Venture Partners. Bessemer partner
David Cowan, a 14-time Midas list
investor, will also join the Board.
"Drones are transforming how field workers safely and accurately
survey job sites across industries in construction, agriculture,
energy, and more," says Cowan. "At Bessemer, we see drone solutions
as a major opportunity in a $6
billion global market and DroneDeploy is the clear software
category leader. The world's largest drone deployments rely on
their technology, and we're excited to help bring the value of
their platform to companies around the world."
The funding comes on the heels of a period of rapid momentum for
DroneDeploy. The company recently announced entry into the drone
inspections market at its annual conference in San Francisco. It also announced new
partnerships with Airbus and drone hardware maker Skydio. This
latest round brings DroneDeploy's total funding to $90 million; additional participating investors
in this round included Energize Ventures, AirTree, Emergence
Capital, Scale Venture Partners, and Uncork Capital.
"Businesses of every size are turning to DroneDeploy to enable
them to make better decisions," says Mike
Winn, Co-Founder and CEO of DroneDeploy. "We're proud our
software delivers faster, safer and more accurate insights over the
one million flights our customers perform every year. This
investment is a reflection of the growth of commercial drones in
the enterprise and will help us deliver on the promise of automated
drone use across every industry."
Tracy Young, Co-Founder and
former CEO of PlanGrid, the leading mobile construction
productivity software, also joins DroneDeploy's Board of
Directors.
"Drones are powerful and valuable business tools, but what the
industry was missing was accessibility paired with world-class
technology," says Young. "DroneDeploy is an authentic, motivated
software company working to democratize commercial drones and
disrupt traditional industries. I'm proud to provide my
perspectives and insights as they push forward."
DroneDeploy will utilize the funding to expand internationally,
move into new industries, and further build out its suite of
offerings for customers.
About Bessemer Venture Partners
Bessemer Venture
Partners is the world's most experienced venture capital firm. With
a portfolio of more than 200 companies, Bessemer helps visionary
entrepreneurs lay strong foundations to create companies that
matter and supports them through every stage of their growth. The
firm has backed more than 120 IPOs, including Pinterest, Shopify,
Yelp, LinkedIn, Skype, LifeLock, Twilio, PagerDuty, SendGrid,
DocuSign, Wix, and MindBody. Bessemer's 16 investing partners
operate from offices in Silicon Valley, San Francisco, New
York City, Boston,
Israel, and India. Follow @BessemerVP and learn
more at bvp.com.
About DroneDeploy
DroneDeploy has more than 5,000
customers across several industries, including those in oil &
gas, construction, mining, solar, agriculture, insurance, wind, and
search & rescue. DroneDeploy customers have mapped more than
100 million acres – greater than the size of Greece and Italy combined – on the platform. In 2020, the
company estimates several customers will have a fleet of over 1,000
drones. Learn more at dronedeploy.com.
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SOURCE DroneDeploy