Overview

Hivemapper operates in the mapping and geospatial data industry by creating a decentralized mapping network. This network allows individuals to contribute to a global map using their dashcams, capturing and uploading map data. Contributors are rewarded with economic incentives, making it beneficial for them to participate. Hivemapper serves various clients, including logistics companies, insurance firms, local governments, and social media organizations, who use its Map Image API to access current geospatial data for applications like route optimization and urban planning. Unlike traditional mapping services, Hivemapper's permissionless model enables anyone with an approved dashcam to contribute data, ensuring diverse and comprehensive map coverage. The company's goal is to provide a continuously updated and cost-effective mapping resource for industries that rely on accurate geospatial information.

Simplify's Take

What believers are saying

• Expansion into Japan and partnerships indicate growing interest in decentralized mapping.
• Bee Maps launch enhances Hivemapper's competitive edge with sophisticated mapping technology.
• New commercial fleet product meets demand for real-time mapping in logistics.

What critics are saying

• Competition from Google Maps and Apple Maps threatens market share.
• Cryptocurrency incentives pose risks due to market volatility.
• Privacy concerns over dashcam data could lead to regulatory scrutiny.

What makes Hivemapper unique

• Hivemapper uses a decentralized network for map data collection via dashcams.
• Contributors are economically incentivized, enhancing data freshness and accuracy.
• The Map Image API serves diverse industries with up-to-date geospatial data.

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Funding

Total Funding

$20.3M

Above

Industry Average

Funded Over

2 Rounds

Notable Investors:

Craft Ventures

Notable Investors:

Craft Ventures

$18,000,000

Series A

Apr 2022

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.

Series A Funding Comparison

Above Average

Industry standards

Ind Avg. $15M

$3.7M

$5M

$8.2M

$15M

$18M

$100M

View all funding stages