Drone data company DroneDeploy has raised $50 million in Series E financing to expand the company’s products beyond aerial capture, expand into Europe and explore opportunities for strategic acquisitions.
DroneDeploy is software used to fly drones and ground-level cameras to automatically collect and analyze visual data from job sites, operations and assets. DroneDeploy is part of the commercial drone market and has reached 259% annual growth in enterprise use in 2020.
The round was led by existing investors Energize Ventures and AirTree, with participation from Bessemer, Scale, Emergence, Angelpad, Uncork and Frontline Ventures. This funding brings DroneDeploy’s total fundraising to date to $142 million, the most of any drone data company. The investment will be used to expand the company’s products beyond aerial capture, accelerate its expansion into Europe, and explore opportunities for strategic acquisitions.
“We see two powerful tailwinds. Enterprise use of drones is exploding. Across the globe, the largest agriculture, logistics, construction 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,” says 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 also recently updated its 360 Walkthrough and Vertical Flight functionality, which enables visual data capture from cameras on the ground and drones flying vertically beside a structure or asset. DroneDeploy has achieved both ISO-27001 certification and SOC 2 Type 1 attestation.