Philadelphia, USA-based leading geographic data and analytics platform, PolicyMap closed its series A financing round with USD 3 million. The company announced the closure on December 19, 2023. The existing investor Reinvestment Fund led the financing for the company. Meanwhile, Ben Franklin Technology Partners, Spring Point Partners, PolicyMap Board Members, Employees, and Friends and Family also joined in Series A.
Purpose of financing for PolicyMap
With the latest capital, PolicyMap seeks to scale growth through investment in new sales and marketing expertise. Its effort further seeks to amplify PolicyMap’s customers’ core use cases, such as community and market intelligence, site selection optimization, impact evaluation, and go-to-market strategies.
What the company’s official has to add
CEO and Founder, Maggie McCullough, said, “At PolicyMap, we aim to be the most trusted resource for geographic data in the United States. We are committed to making our data readily available and easily accessible across our suite of offerings, from the PolicyMap SaaS application to data licensing services and seamlessly embedded mapping tools. We are investing in our data infrastructure and bringing new products to market, which will aid in our quest to both quickly onboard valuable content and easily get it into the hands of our customers through new innovative channels. Empowering decision-makers in diverse markets across the country has always been the core of our mission, and this strategic investment will propel us to achieve that objective.”
In addition, Mark Zandi, Chief Economist at Moody’s Economy.com, PolicyMap Board Chair and shareholder, said, “The raise reflects PolicyMap’s stellar growth prospects as it successfully enters into new markets and its ability to deliver data to companies and organizations in new ways that drive deeper insight into the workings of the nation’s neighbourhoods.”
What the investors have to comment
Don Hinkle Brown, CEO of Reinvestment Fund, further said, “I couldn’t be more excited about Reinvestment Fund’s follow-on round of investment in PolicyMap. We spun PolicyMap off as a for-profit in 2018, knowing that its value expands beyond the markets we traditionally serve. The additional capital allows them to continue to build out their offerings while deepening their footprint in new markets like healthcare.”
About the company
Maggie McCullough in 2007 launched the company. PolicyMap simplifies analyzing geographic data. PolicyMap offers a mapping application, an analytics platform, as well as data licensing services. Various industries for across market intelligence, site selection, impact evaluation, product development, and academic research use the company’s tools.
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