Mapfit reveals highest accuracy maps platform; Bolstered by $5.5M seed funding

NEW YORK, June 12, 2018 /PRNewswire/ -- Mapfit announced today the launch of its map platform and the close of its $5.5 million seed funding round. The platform provides websites and app developers (iOS and Android) continuously-updated fast vector map serving and accurate geocoding, enabling best-in-class map experiences.

The $5.5 million in seed funding comes from an experienced group of global technology entrepreneurs and investors including Cavalry Ventures (DeliveryHero), Weihua Yan (Diapers.com, Quidsi), Roderick Thompson (ePlanet Capital, Baidu, Skype), Auren Hoffman (Safegraph, Liveramp), Daniel Waterhouse (Balderton), Jeroen Seghers (Sourcepoint), Matias de Tezanos (Hoteles.com, PeopleFund) and Joost de Valk (Yoast).

Mapfit's map platform ingests imagery, telemetry and spatial data sets, autonomously maintaining the locations of billions of map data points. The platform is capable of processing map updates for very large countries on a daily basis, and with limited human supervision. Frequently updated maps are made available to developers through Mapfit's APIs, SDKs and vector map server.

A significant benefit of Mapfit's platform is its ability to heuristically determine the location of entrances for 95% of addresses assigned to building structures, enabling door-to-door navigation across major metropolitan areas. The last-ten-feet navigation problem had been a setback for consumer mapping applications and for autonomous vehicles envisioning entrance-to-entrance autonomous navigation.

Mapfit simultaneously launched a new vector map service. The map service offers fully dynamic and interactive maps at speeds which were previously only possible through static images. Developers can choose between highly detailed map renderings offering 3D buildings and public transit information, or slim vector tiles which offer a reduced dataset for door-to-door walking, driving and biking navigation. The slim vector tiles have the added advantage of being up to 95% smaller than traditional map tiles but retain the high definition required in award-winning UX design. The new vector tile service has been deployed at data centers across the globe, ensuring the fastest vector map service everywhere.

About Mapfit
Mapfit's team of engineers, ontologists and UX experts provide developers the tools to create inspiring map experiences. The company was founded in 2015 and is headquartered in New York, with a satellite office in Washington, DC. The Mapfit team is backed by prominent tech investors and successful serial entrepreneurs. Learn more at www.mapfit.com or contact [email protected].

SOURCE Mapfit