WASHINGTON, Jan. 17, 2017 /PRNewswire/ -- Measure, the nation's leading Drone as a Service® operator, announced today that it has raised $15 million in Series B financing with LionTree Advisors acting as the financial advisor. Measure and its national network of licensed pilots provide turnkey solutions to acquire, process, and deliver actionable aerial data to enterprise customers.
Since Measure's last investment round in September of 2015, Measure has established itself as the leader in comprehensive drone services, pioneering use cases such as cell tower inspections, construction development, precision agriculture, disaster response, live media coverage, and more. In 2016, Measure pilots, many of them veterans, flew over 1,100 flights for some of the largest and most innovative Fortune 1000 companies.
"Our vision for the company has always been to provide safe, legal, and insured operations at scale for enterprise organizations," said Measure Chairman Robert Wolf. "We have an innovative business model, an amazing team, and now the capital to reach our desired scale. We hope to propel the entire industry forward with our growth."
"Drone services is one of the fastest growing technology segments with the potential to provide extraordinary value to industries such as insurance, manufacturing, logistics, oil and gas, retail, government, and media and communications. Cognizant is excited to deepen our relationship with Measure through this investment and bring our world-class digital capabilities, such as advanced data analytics and software development, to enterprise customers looking to create value from data collected via drones," said Sean Middleton, President of the Cognizant Accelerator, of which Cognizant Ventures is a division.
"This is a tremendous moment for Measure and for the drone industry and we believe 2017 is when everyone pivots towards services. This investment round will help make it possible to expand to new customers; we look forward to continuing to work with Cognizant to offer new, innovative services around data analysis not currently available in the market," said Brandon Torres Declet, CEO of Measure.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 100 development and delivery centers worldwide and approximately 255,800 employees as of September 30, 2016, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500, and is ranked among the top performing and fastest growing companies in the world. Visit us at www.cognizant.com or follow us on Twitter: Cognizant.
Measure is the nation's leading Drone as a Service® company. We provide turnkey solutions to acquire, process, and deliver actionable aerial data to enterprise customers. Measure leverages best-in-class technology to outfit its fleet of drones and highly trained pilots to perform operations that are safe, legal, and insured. We don't make drones. We make drones work.
Contact: Vania Wang
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