Female Stanford Ph.D. and Pentagon veterans lead the charge to help companies harness spatial data from many sources including satellites, drones, and IoT so they can use resources more efficiently
Geosite, the company simplifying complex spatial data from many sources so companies can use resources more efficiently, announces its successful $5M Series A round co-led by Lavrock Ventures and NextGen Venture Partners with participation from Bee Partners and MS&AD Ventures, the investment arm of the Japanese insurance titan MS&AD Insurance Group.
Enterprises can use data from multiple sources, like satellites, drones, and IoT devices, to more efficiently manage resources while solving critical problems that can range from finding lost hikers and defending borders to directing disaster response and addressing food scarcity. However, the complexity and cumbersome nature of the data locks the benefits of this powerful technology largely in the hands of scientists and the government.
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Geosite solves that problem by fusing multiple streams of data into an easy-to-use environment. The company’s platform draws from the best productivity-boosting features of Google Docs and Slack to provide quick visualization, communication, collaboration, and decision making from any location in an office or in the field.
“We’re at the front end of a tidal wave of geospatial data from the satellites that surround the planet and surging growth from drones and IoT sensors but very few enterprises are capable of harnessing the disparate sources for use in their daily operations,” explains Rachel Olney, Geosite’s CEO and founder. “Geosite harnesses this immense flow of data to give companies an unfair competitive advantage by allowing them to quickly understand and direct resources to solve problems without the need for expensive teams of experts.”
Geosite’s platform hosts applications that leverage spatial data to address needs in multiple major industries that include:
Energy – provides distributed energy operations (from oil and gas, geothermal, and renewables) with a cost-effective, easy-to-use system so they can improve situational awareness and incident response management by constantly monitoring assets to reduce emissions and environmental impacts
Insurance – facilitates better decisions and faster responses in a crisis by fusing property information with aerial, satellite, historic, modeled and AI produced data for a clear understanding of risks from natural catastrophes and fire due to building density.
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Utilities – reduces the frequency and duration of outages by allowing operators to easily visualize where problems exist using data from controls and sensors together with weather, crime, disaster, and other risk and incident data so they can respond quickly and precisely
Defense – helps operators maintain situational awareness through intuitive, visual, collaborative common operating picture applications like the Joint All-Domain Command and Control (JADC2) System in addition to training and mission planning decisions as Geosite did for the US Air Force during the COVID-19 pandemic
“Decades ago, the development of easy-to-use browsers that harnessed the surging flow of data packets opened the door to the new internet-based economy that spawned some of the largest companies in the world today,” observed Steve Smoot, Lavrock’s General Partner. “The most exciting aspect of Geosite is the company’s ability to open the door to a new Geospatial Economy by making the growing amount of geospatial data easy-to-use for enterprise users in much the same way.”
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