MapAnything, a five-time recipient of Lighter Capital funding, announced a $33.1M Series B funding round today. Columbus Nova led the round. Also participating: ServiceNow Ventures and previous investors Greycroft Partners, Harbert Venture Partners, Salesforce Ventures, along with individual investors Michael Lazerow and David Stern.
MapAnything, a Salesforce ISV that focuses on developing location-based workflows, plans to use the money to enhance and release products, linking IoT-enabled devices to the customer, and expanding their product suite from Salesforce to the ServiceNow Platform.
Founded in 2009, MapAnything now has 150 employees and more than 1,500 clients. Lighter Capital first funded them in 2012. “We looked into many financing sources,” John Stewart, CEO of MapAnything said, “but never found one we liked. In order to raise $600K in 2012, my co-founder and I needed to give up 35%–40% of our company.”
Lighter Capital was able to offer MapAnything a non-dilutive solution. They later completed another four rounds of revenue-based financing, for a total of $1.2M in growth capital. “Our company wouldn’t have existed if no one had gambled on us,” John Stewart, CEO of MapAnything said. “And Lighter Capital did.”
For more on MapAnything, read our case study.