Carmaker General Motors and customer management software producer Salesforce, have invested in US-based geolocation and mapping technology provider MapAnything’s $42.5m series C round.
Venture capital firms Greycroft and Harbert Venture Partners also took part in the round, along with angel investors Andrew Leto and David Stern. The corporates participated through subsidiaries GM Ventures and Salesforce Ventures.
MapAnything’s software combines mapping, asset tracking, schedule planning, geo-analytics, real-time traffic updates, weather forecasts and construction plans to help businesses improve the productivity of their mobile workers.
The software can also be used to create the best routes for commercial fleet operators. The company plans to expand its reach into new markets by using the series C funds to enhance its developer community and bolster its research and development team.
Ed Peper, vice-president of GM subsidiary GM Fleet, said: “We have seen firsthand how the most sophisticated fleet managers in the world rely on connectivity to optimise their investments in vehicles and people, and we are just starting to scratch the surface of what is possible using sophisticated tools like MapAnything.”
MapAnything raised $33.1m in a February 2017 series B round featuring Salesforce and ServiceNow Ventures, the investment arm of fellow enterprise software provider ServiceNow, as well as Greycroft, Harbert Venture Partners, Columbus Nova and angel investors Michael Lazerow and David Stern.
Salesforce Ventures, Greycroft, Harbert, Lazerow and Stern had previously taken part in MapAnything’s $7.3m series A round in 2015.