Thu Nov 14 2019 00:00:00 GMT+0000 (Coordinated Universal Time)
At DroneDeploy, everything we do is focused on how we can best serve our customers. That’s why we’re excited to share that we’ve officially closed a $35 million Series D round led by Bessemer Venture Partners—a firm with deep experience and wide expertise, including backing over 120 IPOs. This latest investment will help us build out new products for customers, expand internationally, and continue building our innovative solutions that help companies across every industry.
David Cowan, Bessemer Venture Partners
Bessemer partner David Cowan, a 14-time Midas List investor with a wealth of experience across industries, will join our Board.
Cowan explained: “Drones are transforming how field workers safely and accurately survey job sites across industries in construction, agriculture, energy, and more. At Bessemer, we see drone solutions as a major opportunity in a $6 billion global market and DroneDeploy is the clear software category leader.”
Mike Winn, Co-Founder & CEO, DroneDeploy
Our momentum continues to build. We recently announced entry into the drone inspections market; we’ve also announced new partnerships with Airbus and drone hardware maker Skydio. These recent ventures highlight our continued investment in our customers’ success; with new partners, deeper resources, and expanded capabilities, we continuously strengthen our ability to solve customers’ problems and accelerate their growth.
This latest round brings our total funding to $90 million. Additional participating investors in this round include Energize Ventures, AirTree, Emergence Capital, Scale Venture Partners, and Uncork Capital.
Mike Winn, our CEO, shared his perspective: “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
Tracy Young, Co-Founder and former CEO of PlanGrid, the leading mobile construction productivity software, will also be joining our Board.
“Drones are powerful and valuable business tools, but what the industry was missing was accessibility paired with world-class technology,” said 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.”
With this latest investment, we will expand internationally, move into new industries, and further build out our suite of product offerings. For both the industry and for our team, the sky is no longer the limit.
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