Total amount raised
$614.2 Millions
Latest funding date
9/1/2023
Location
Mapbox has successfully raised significant funding across multiple rounds, attracting notable investors such as SoftBank and Decacorn Capital. The platform offers AI-powered location technology tailored for industries like automotive, mobile app development, and logistics services.
Continue reading to delve into the details of Mapbox's funding journey and discover the key investors supporting this innovative platform.
What Is Mapbox?
Mapbox, founded in 2010 in Washington, D.C., is a leading provider of AI-powered location technology. The company was established by Bonnie Bogle, Eric Gundersen, and Will White.
Mapbox offers a range of products including customizable maps, advanced navigation services, and precise location search features. Their technology is widely used in various industries such as automotive, mobile app development, and logistics services.
With a workforce of 501-1000 employees, Mapbox continues to innovate and support over 4 million registered developers and nearly 40 percent of Fortune 500 companies.
How Much Funding Has Mapbox Raised?
- Series A
- Amount Raised: $10M
- Date: October 2013
- Lead Investors: Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand its product offerings.
- Series B
- Amount Raised: $52.6M
- Date: June 2015
- Lead Investors: DFJ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and support a growing user base.
- Series C
- Amount Raised: $164M
- Date: October 2017
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of AI-driven location services.
- Series D
- Amount Raised: $107M
- Date: May 2020
- Lead Investors: Premji Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance product features.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing innovation and product development.
- Series E
- Amount Raised: $280M
- Date: September 2023
- Lead Investors: SoftBank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate AI into automotive systems and expand AI-driven location features.
Total Amount Raised: $613.6M. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company headquartered in Tokyo. It is known for its significant investments in technology, energy, and financial sectors.
- Investment Focus Areas: Technology, telecommunications, AI, robotics, IoT, clean energy technology.
- Notable Investments: Uber, WeWork, ARM Holdings.
- DFJ Growth
- Details: DFJ Growth is a venture capital firm that invests in high-growth technology companies. The firm is part of the Draper Fisher Jurvetson network.
- Investment Focus Areas: Enterprise software, consumer internet, mobile technology.
- Notable Investments: Tesla, SpaceX, Twitter.
- Foundry Group
- Details: Foundry Group is a venture capital firm based in Boulder, Colorado. It focuses on investing in early-stage technology companies.
- Investment Focus Areas: Software, internet, and information technology.
- Notable Investments: Fitbit, SendGrid, Zynga.
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, the chairman of Wipro Limited. It focuses on private equity investments.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Flipkart, PolicyBazaar, Snapdeal.
- SoftBank Vision Fund
- Details: The SoftBank Vision Fund is a subsidiary of SoftBank Group, focusing on large-scale investments in technology companies. It is one of the largest technology-focused investment funds in the world.
- Investment Focus Areas: AI, robotics, IoT, telecommunications.
- Notable Investments: Slack, DoorDash, WeWork.
What's Next for Mapbox?
Mapbox stands at the cusp of significant opportunities, particularly in the automotive sector. With a $280 million investment from SoftBank, the company aims to enhance AI-driven location features, integrate with in-vehicle battery systems, and develop Advanced Driver Assistance Systems (ADAS). These advancements could revolutionize automotive safety and efficiency, positioning Mapbox as a key player in the industry.
Future fundraising opportunities appear promising, given the substantial backing from SoftBank and the broad application of Mapbox's technology. However, challenges such as regulatory compliance, competition, and technological integration remain. Successfully navigating these hurdles will be crucial for Mapbox's continued growth and market expansion.
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