CPE News (2.22.2023) – Mappedin has closed its Series A round of financing led by Channel Equity Partners, a San Diego, California based growth equity firm specifically focused on emerging category leaders in B2B SaaS.
In connection with the financing, Andrew Albert, co-founder and Managing Partner of Channel Equity Partners, and James Killick from Map Happenings have joined Mappedin board of directors.
Founded by CEO Hongwei Liu, Waterloo, Ontario based Mappedin is the leading platform for digitizing indoor venues, managing spatial data, and building indoor mapping experiences.
New funds will be used to support Mappedin’s growth mission, enabling the business to scale its team, bolster its go-to-market efforts, expand into new industries, and continue investing in its cutting-edge technology and products.
In 2016, Mappedin closed its $3.5 million tranched seed financing with Celtic House Venture Partners, Green Century Investments, Amolino, and private investors.
photo credit: Mappedin
News Release
Mappedin Raises Series A to Accelerate Growth as Demand for Indoor Mapping Increases
WATERLOO, ON, Feb. 22, 2023 /CNW/ – Mappedin, the leading platform for creating and maintaining indoor maps, is excited to announce it has raised a Series A round of funding led by Channel Equity Partners, a San Diego-based growth equity firm specifically focused on emerging category leaders in B2B SaaS.
The investment funds will be used to support Mappedin’s growth mission, enabling the business to scale its team, bolster its go-to-market efforts, expand into new industries, and continue investing in its cutting-edge technology and products. Whether leveraged directly by end-customers or through its technology partners, Mappedin is a digital foundation for the “built environment”. It provides best-in-class solutions for malls, offices, stadiums, campuses, airports, and many other venues to tackle a variety of indoor mapping use cases, including wayfinding, asset and facility management, public safety, private security, and logistics.
“We have been building a relationship with Mappedin for years and have deep conviction that, while outdoor mapping is largely “spoken for” already, the indoor mapping space is now at a critical inflection point and Mappedin is strongly positioned to execute amidst these market tailwinds. The company’s extensible platform and pre-built applications are currently helping solve key challenges across numerous venue types and use cases – and are applicable to countless more,” said Andrew Albert, Managing Partner and Co-Founder of Channel Equity Partners.
Mappedin is on a mission to enable “One Map Everywhere”. Whether it’s facilitating back-to-office initiatives, optimizing brick-and-mortar retail operations, helping travelers through complex airports, delivering fan experiences at stadiums, or powering IoT, the built environment requires accurate digital maps. Mappedin’s solutions uniquely serve this need by automating and simplifying the traditional mapping process, allowing customers to create, maintain, publish, and utilize their indoor maps at scale.
Mappedin is also delighted to announce that James Killick has joined Mappedin’s board of directors. James’ career in the geospatial industry stretches almost 40 years, 9 of which he spent running Apple Maps’ Global Partnerships team. He got his start at Etak (the first in-vehicle navigation system), was on the executive team that sold MapQuest to AOL, and also spent 9 years at Esri (one of the largest privately held software businesses in the world and the largest GIS company). His insights and guidance will be invaluable as Mappedin continues to scale and navigate the geospatial landscape.
“With CEP and James Killick at the table, I’ve never been more excited to go to work every day and build towards One Map Everywhere. The team at Mappedin has done a lot with relatively little historically – now it’s time to show what we can really do,” said Hongwei Liu, CEO and Founder of Mappedin.
About Channel Equity Partners
Channel Equity Partners (“CEP”) is a growth equity firm based in San Diego, California. CEP invests in B2B software and software-enabled services businesses in the United States and Canada. For more information, visit www.channelep.com.
About James Killick
With extensive experience in business development, product management, and product strategy, James Killick’s career spans almost 40 years working for industry pioneers throughout the geospatial industry. He currently consults as a strategic advisor and focuses on the mapping industry in his blog, Map Happenings. For more information, visit www.maphappenings.com.
About Mappedin
Headquartered in Waterloo, Ontario, Mappedin is the leading platform for digitizing indoor venues, managing spatial data, and building indoor mapping experiences. Engineered for scale and ease-of-use, Mappedin’s flexible platform and pre-built applications enable it to work with world-class venue developers, owners, operators, and tenants around the globe. For more information, visit www.mappedin.com.
SOURCE Mappedin, Inc.
For further information: Genny Orser, VP of Marketing, genny@mappedin.com