LOS ANGELES, June 29, 2021 /PRNewswire/ -- Mapped, an AI-powered data infrastructure platform for commercial and industrial IoT, today announced that it closed its seed II funding round. The company raised $6.5M in seed II funding on top of the $3M raised in February 2020, taking its total raise to $9.5M. Investors include MetaProp and Allegion Ventures as co-leads, along with Singtel Innov8, Greycroft, and ANIMO Ventures. Mapped also welcomed a new member to its board, Jeanne Casey, principal, MetaProp, based in New York City. She joins existing board members Brentt Baltimore, principal, Greycroft, a Los Angeles-based venture capital firm; and Shaun Cooley, founder and CEO, Mapped. Greycroft and ANIMO Ventures invested in the platform's previous seed funding round as well.
Combining cloud AI and intelligent edge software, Mapped automatically discovers, ingests, and normalizes data about people, places, and things from all disparate devices in commercial and industrial environments. The platform is then able to map this data into a simple ontology to help digitization teams, app developers, data scientists, systems engineers, and subject matter experts instantly access normalized live data. Founded by Shaun Cooley, former vice president and chief technology officer of IoT at Cisco, Mapped further simplifies the experience by providing one simple, secure, and reliable API, streamlining the data integration process. Mapped also gives teams the tools to seamlessly share data across systems and locations.
"Our investment into Mapped represents our continued belief that data and automation are key to unlocking the massive market opportunity of smart buildings and IoT," says Jeanne Casey, principal at MetaProp. "We are thrilled to support Shaun and the world-class team he's building as they scale their platform across the real estate world."
Abstracting away historic complexities inherent in data from thousands of devices produced by hundreds of vendors, Mapped has boiled that information down into a sleek, developer-friendly API, simplifying access to information about the people, places, and things in commercial and industrial environments.
"Mapped is led by a very impressive management team with diverse technical backgrounds who have created a unique and much-needed ability to unify connected devices across commercial systems and buildings," said Rob Martens, president of Allegion Ventures. "The software and tools Mapped is offering have an exciting opportunity to be adapted and scaled by a wide audience that wants real-time device visibility and data insights—and they also align to the Allegion Ventures focus of enabling technology to reduce friction and make buildings smarter and more secure."
"We are grateful for the momentum we've achieved and the recognition Mapped has earned, and are excited to continue taking our uniquely modern approach towards abstracting the complexities of data integration to market," said Shaun Cooley, Mapped founder and CEO. "This funding round will be used to build out go-to-market teams, strengthen our core technology, and meet increasing customer demand as we continue to scale. Our customers see Mapped as filling a highly-anticipated need through our simple, secure, and reliable API, which is especially vital now as the public settles into a new post-pandemic normal. Commercial buildings need to be increasingly competitive in today's marketplace, and Mapped provides the capability for a convenient and elevated experience within those physical spaces. The fully automated Mapped data pipeline significantly reduces time-to-value for both commercial and industrial enterprises."
To learn more about Mapped, as well as access use cases or to sign up for a beta trial, visit https://www.mapped.com/.
Mapped is a data infrastructure platform for IoT, powering the API economy. Capable of quickly mapping all devices on a network in commercial and industrial IoT environments, we are changing the dynamic for how data from complex environments is extracted by simplifying the data integration process with one simple, secure, and reliable API. Learn more here.
About Allegion Ventures
Allegion Ventures is the corporate venture fund of Allegion. It invests in and accelerates the growth of companies with innovative technologies and products that have the potential to make security and access smarter, stronger, faster and less intrusive. For more information, please visit www.AllegionVentures.com.
MetaProp is a New York-based venture capital firm focused on the real estate technology ("PropTech") industry. Founded in 2015, MetaProp's investment team has invested in 130+ technology companies across the real estate value chain. The firm manages multiple funds for both financial and strategic real estate investors that represent a pilot- and test-ready sandbox of 15+ billion square feet across every real estate asset type and global market. The firm's investment activities are complemented by pioneering community leadership including the PropTech Place innovation hub, MetaProp Accelerator at Columbia University programs, global events NYC Real Estate Tech Week and Propel by MIPIM NYC, and publications Global PropTech Confidence Index and PropTech 101.