Datumate Secures $5M in Financing Round Led by Battery Ventures
Nazareth, Israel, March 20th 2014 -- Datumate Ltd., a market leader of ‘field-to-plan’ technologies for the civil engineering and architecture industries, has secured $5M in financing round led by Battery Ventures. Existing investor Al-Bawader, an Israel-based investment firm, also participated in the round. The new funding will be used to continue product innovation, fuel the company’s rapid growth into more markets and acquire more customers worldwide.
Datumate (www.datumate.com) transforms the civil engineering and architectural spaces by using image-processing technology to dramatically reduce the amount of time crews spend in the field taking technical measurements for projects while maintaining a high level of accuracy, as well as time spent in the office transforming these measurements into maps and plans. This revolutionizes the laborious and error-prone process of capturing field data and turning it into a GIS map or a CAD plan, which currently involves taking detailed field measurements with dedicated surveying equipment; making sketches by hand in the field; and then turning them into a technical plan. With Datumate’s software platform, surveyors, architects and civil engineers simply photograph the surveyed area or object with a regular camera, either handheld or carried by small remote-controlled quadcopter, and then draw their maps or plans directly on the resulting digital images. This streamlines the process of turning field data into maps and plans, making it faster, cheaper and of a higher quality than the traditional method used today.
The markets have been highly receptive in adopting Datumate’s paradigm-shifting technology. Datumate’s software is already in use by numerous customers worldwide, from small private firms to large municipal and national agencies, consistently providing a step-function increase in productivity and quality. Datumate’s software has recently won the Most Innovative Product Award at GeoForm+2013. Datumate is led by a seasoned management team, and Rani Cohen, former President and CEO of Orbotech (ORBK: NASDAQ), has recently joined Datumate as Chairman.
“Driven by the rapid evolution of digital photography and cloud computing in recent years, Datumate is at the forefront of a real paradigm shift in the civil-engineering and architecture markets,” said Itzik Parnafes, a general partner at Battery Ventures who is joining Datumate’s board. “Datumate is shaking up the industry by fundamentally changing the way field data is captured, communicated and used. Datumate’s team is smart, experienced and aggressive, with a pioneering solution and unique IP, and we are very pleased to partner with them to help them scale.”
“We are very impressed with team behind Datumate, the product they have built in such a short time, the traction it gets with users and the vision behind the company,” remarked Jimmy Levy, Managing Partner of Al Bawader. “They’re offering a truly unique solution to help a community of hundreds of thousands of civil engineering and architecture professionals attain a step-function improvement in their productivity.”
“We’re proud to have Battery join our team of impactful investors,” said Haim Zelikovsky, Datumate CEO. “Battery’s worldwide reach and track record in helping its portfolio companies grow will be a great asset for us and allow us to keep innovating and delighting the market. We have a very big opportunity in front of us, and we want to continue to move quickly and smartly to capture it.” Dr. Jad Jarroush, a 20-year civil engineering industry veteran and CTO at Datumate, says the technology Datumate provides could “radically changes the entire face of the civil engineering industry.”
Datumate (www.datumate.com), a market leader of ‘field-to-plan’ technologies, is transforming the civil engineering and architectural spaces by using image-processing technology to dramatically reduce the amount of time crews spend in the field taking technical measurements for projects while maintaining a high level of accuracy. Datumate’s software consistently provides a step-function increase in productivity and quality for the numerous customers using it today, from small private firms to large municipal and national agencies. Datumate has recently won the Most Innovative Product Award in GeoForm+2013. For more information, see www.datumate.com.
About Battery Ventures
Battery invests in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston, Silicon Valley and Israel. To learn more, visit www.battery.com and follow the firm on Twitter @BatteryVentures. For a full list of Battery's portfolio companies, please go to http://www.battery.com/our-companies/list/.
Al-Bawader is the first investment fund to focus on the Arab private sector in Israel. Al Bawader invests in a diversified portfolio, including manufacturing, service, and technology companies, focusing on revenue generating companies with proven products and a sustainable value proposition. Al-Bawader’s mission is to maximize financial returns for its investors by investing and working closely with companies that have high growth potential. Al Bawader views its relationship with entrepreneurs as a partnership and serves as an active investor, making use of the extensive network, experience and knowledge of partners and investors to provide on-going support and advice to its portfolio companies. Pitango Venture Capital, Israel’s largest venture capital firm with more than $1.6 Billion in committed capital, is a founding partner of Al Bawader. For more information, see www.al-bawader.com.