Carto Raises $61M Series C Financing
Gunderson Dettmer represented client Carto, a cloud-native spatial analysis platform, in its $61 million Series C financing led by Insight Partners. Carto’s platform enables organizations to use spatial data and analysis for more efficient delivery routes, better behavioral marketing, strategic store placements, and more. The new capital will enable the company to further accelerate cloud integrations and speed up growth in verticals.
In the announcement of the transaction, CEO of Carto Luis Sanz said, “The rise of the data warehouse has allowed organizations to unify and connect all their data in a single location, and geospatial data is no exception. Now, thanks to our cloud-native offering, they can also perform spatial analytics on top of them. Our Spatial Extension runs on top of all the major data warehouses and takes full advantage of all their benefits, giving our users a complete suite for geospatial analysis that is highly performant, scalable, and secure. And because Spatial SQL uses all the same elements and structure of regular SQL, it is compatible with all modern analytics stacks. Whether it is site selection for brick & mortar, route optimization in logistics, or customer segmentation in CPG - more and more businesses want to understand not only where things are happening, but also why they are happening there - and that's what CARTO enables.”
The Gunderson deal team was led by Daniel Green and Nate Gray and included Colin Chapman, Mark Foster, Lily Kim, Craig Olshan, Nathalya de Moraes Rego Zara, Jamilah Mena, and Wyatt Stillman.