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Mapbox Equips Connected Cars And Apps With Ai Maps, Backed By New $280 Million Investment From Softbank

Sep 19, 2023•almost 2 years ago

Amount Raised

$280 Million

WashingtonLocation Based ServicesSoftware

Investors

MapboxSoft Bank Group Corp.

Description

Mapbox, the location platform powering navigation for Toyota, General Motors, and BMW, today announced the completion of a $280 million Series E funding round, led by SoftBank Group Corp. and its affiliate (together, "SoftBank"), to fuel investments into AI location services and further broaden its footprint in the automotive industry. The company has long been the go-to location platform for powering mobile apps and logistics, from rendering animated radar maps for The Weather Company to helping Instacart deliver groceries on-time. Now, Mapbox has firmly established itself in the automotive industry, working with brands known for leading the market in innovation.

Company Information

Company

Mapbox

Location

Washington, Washington, United States

About

Mapbox is the technology underpinning location-aware businesses and applications. Mapbox equips organizations with AI-enhanced tools and data to power navigation for people, packages, and vehicles everywhere. More than 4 million registered developers and nearly 40 percent of Fortune 500 companies have chosen Mapbox because of the platform's flexibility, security, and privacy compliance. Organizations use Mapbox applications, data, SDKs, and APIs to create customized and immersive experiences that delight their customers. For more information, visit www.mapbox.com.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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