A Big Investment in LoT for a Big Opportunity in On-Demand Business

Series C Financing Round

This week MapAnything is celebrating a significant milestone -- the closing of our $42.5m Series C round of financing. Our growth and evolution has been an amazing experience thus far and we’re just getting going! In just a few short years, we’ve proven that Location-of-Things (LoT) data is an essential component of growth and customer satisfaction for field-based sales and services organizations.  Our technology has generated over two million routes, and is used by over 100,000 mobile workers in over 2,000 companies around the globe. We’re the world’s leading innovator in map-based technology for the enterprise, with four patents pending. We’re envisioning a better world of work and we’re just beginning! 

More important than the growth of MapAnything, is the growth our customers achieve by using MapAnything LoT in conjunction with Salesforce.  For example, Valvoline has achieved 60% increase in sales effectiveness. And they’re not alone. Our customers are seeing their customer interactions increase by up to 25%, resulting in higher sales and customer satisfaction, less competitive pressures, and happier sales reps who make more money and spend less time driving.

With MapAnything I can plot every opportunity or account I want. And then I can say 'Ok, based on the number of opportunities and the number of accounts in a given zone, how many sales people will it take to effectively cover that'? Our territories are getting optimized simply because of our visibility into what's there is increasing. It's made us much more efficient.
Les Reed
Director of Quick Lube Sales, Valvoline

We’re just at the beginning of a seismic shift as the world’s business meet the on-demand expectations of customers. Not just in consumer markets, but in every business and every enterprise, serving any customer profile. Markets and Markets predicts that the LoT market will reach $27B by 2022, driven by companies of all types leveraging location as a unique competitive differentiator. Location intelligence allows companies to transform customer experiences, and deliver products and services more efficiently and cost effectively.

 

Customer experience will soon overtake price as key brand differentiator

For sales organizations, the business value of face-to-face interaction is $12 for every $1 spent on business travel, yet sales organizations spend less than one-third of their time actually selling and servicing customers because they’re driving, stuck in traffic, or navigating inefficient routes.  Harvard Business Review reports that an Increase in customer retention rates by just 5% can increase profits from 25% to 95%.

We’re very excited about the future of Location-of-Things, and our ability to drive it.  This infusion of resources will allow us to expand our technology leadership, and provide our customers with the LoT solutions they need to grow and dominate their own markets. Stay tuned!

 

Read the Press Release >> 

 

1https://www.marketsandmarkets.com/PressReleases/location-of-things.asp
2https://www.virgin.com/entrepreneur/infographic-the-importance-of-face-to-face-networking

John Stewart

By: John Stewart
Chief Executive Officer at MapAnything


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