Overview

Hivemapper operates a decentralized mapping network that allows individuals to contribute to a global map using dashcams. Contributors capture map data through their dashcams and upload it to the Hivemapper network, receiving economic incentives in return. This crowdsourced approach enables the company to provide up-to-date geospatial data to a variety of clients, including logistics companies, insurance firms, local governments, and social media organizations, through its Map Image API. Hivemapper's unique permissionless model allows anyone with an approved dashcam to contribute data, ensuring broad coverage and accuracy. The company generates revenue by charging clients for access to its mapping data, with a cost-effective pricing model that encourages continuous updates. Hivemapper's goal is to create a reliable and continuously updated global map that serves multiple industries.

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

$20.9M

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

$30M

View all funding stages