Following a year of rapid growth in line with the founding team’s targets and ambitions to disrupt the geospatial industry with a flexible analytics solution that meets the needs of any business user in different industries, Spottitt is seeking new equity investors to raise $2M, part of which already committed by current shareholders and managers.
The new capital will be used to accelerate growth in more industries and geographies (65%) and accelerate the development of Spottitt MF, our new web service for data delivery and customization (35%).
Spottitt MF is a unique geospatial analytics platform that automates the process of getting the right satellite image, converting it into actionable insights with AI, and providing the widest range of analytics for business users in different industries. Spottitt MF aims to be 3 times more effective than any other geospatial analytics service, at ⅓ of the cost. Earlier this year, Spottitt launched the beta version and 26 utility companies from all over the World signed up to see it in action and provide feedback.
In the last 12 months, Spottitt has proven itself to be one of the fastest growing monitoring solutions for utility infrastructure owners, having exceeded $500.000 in revenues (more than double the previous year’s figures, exceeding EoY 2021 forecasts), with 15 new customers (including 3 Fortune500 companies), and a growing number of returning clients excited to scale the service after their first paid pilot tests.
With the next funding round, Spottitt aims to increase the speed and conversion rate of the sales-cycle, introduce a new subscription plan together with Spottitt MF, expand into 3 more industries and enter the North American market. These objectives and the current pipeline of opportunities will result in more than $1.4M in revenue next year.
“I am excited at the progress and momentum generated by the hard work of the whole team. We have shown that we have understood the needs of infrastructure owners, have services that meet these needs and that there is growing demand ”, says Lucy Kennedy, co-founder and CEO, “This funding round will bring us to the next level of service delivery automation and introduce our services to new markets in new geographies.”
Spottitt is a UK company, with offices in Oxford, UK and Wroclaw, Poland. All Spottitt co-founders are serial entrepreneurs with proven achievements and expertise, supporting the management team are another 13 experts in the fields of machine learning, earth observation, GIS, software development and sales and marketing.
Interested investors looking to participate in a $2M seed round closing this year are welcome to contact Spottitt’s CEO lucy.kennedy@spottitt.com
Spottitt CEO and EASRC EO Evangelist for Infrastructure
We’re looking for a Business Development Manager who’s ready to play a pivotal role in shaping our growth story.
You’ll be the driving force behind new client relationships, opening up industries that have yet to realise the potential of satellite data, and turning opportunity into long-term success.
Should you build a geospatial analytics team in-house or outsource to specialized providers while maintaining strong GIS systems and data management in-house?
As critical infrastructure evolves under the pressure of aging assets, regulatory demands, and environmental risks, geospatial analytics is no longer a “nice-to-have” – it’s a strategic necessity.
Throughout years, infrastructure monitoring has progressed from manual field inspections to advanced remote sensing using satellites, drones, LIDAR, and AI-powered analytics.
Each technology brings distinct advantages and limitations, making the choice complex.
This comparison sheet offers an overview of technologies to help identify the best-fit solutions for linear infrastructure owners and operators.
Welcome to your monthly roundup of the latest updates from the Spottitt Metrics Factory platform. As always, we’re working to make your asset risk analytics experience more insightful, flexible and faster.
Future Climate Data Models Now Integrated
Understanding how climate change affects infrastructure is no longer limited to the past or current. Spottitt MF now integrates future climate scenario models, based on global models developed by the Intergovernmental Panel on Climate Change (IPCC).
Welcome to Spottitt “Let’s Talk Satellite EO Data” eBook – your ultimate guide to understanding satellite-derived data types, their applications in asset monitoring, of the different types of data providers, and practical tips for navigating the challenges of using remote sensing data.
This resource is designed to help you make well-informed decisions about the use and integration of EO data, ultimately to ensure the safety and performance of your critical infrastructure.
At Spottitt, we’re constantly working to enhance your experience with our analytics platform, by making data visualization and reporting more intuitive, flexible, and insightful. This month, we’re introducing several updates which give you even more control and customization.
🌍 Your Free Climate Data Now Displayed as a Gradient Layer in a Map Format
Just like our other data layers, your free climate data can now be viewed on the map in a compact gradient color format. While generating a report on how each climate parameter impacts your assets is the best way to match this data to your assets and can be nice to view these data layers – helping you assess environmental exposure at a glance.
