Announcing $10 Million in Series A Funding to Fuel Expansion and Growth
We’re excited to announce Propeller’s new infusion of $USD10 million ($AUD13.2 million) in Series A funding. Led by Blackbird Ventures, with participation from all existing major investors and new investor Sequoia China, this brings our total funding to $USD14 million since launching in 2014.
Propeller will use this round to aggressively scale our team globally and broaden and accelerate product development, as we continue to innovate and deliver new technology.
“We’re delighted to be able to fuel the journey of Propeller in a more substantial way, right at the time drones are reshaping the way the industrial world conducts every aspect of their business,” said Niki Scevak, partner at Blackbird Ventures. “Propeller is growing among the fastest of any company we have seen and we are so excited for the future.”
“The construction and mining industries are starting to see how powerful drone-mapping and analytics tools really are—they’re quickly becoming the industry standard,” said Co-CEO and Co-Founder of Propeller Rory San Miguel.
For Propeller, this financing builds on a busy 12 months. We opened our North American headquarters in Denver in November 2017. We saw huge market adoption of our solutions; an ever-expanding roster of global users; and key partner alignment with Trimble Inc., the global leader in positioning technology solutions.
Read the full press release here
About Blackbird Ventures
Blackbird is an Australian venture capital firm that exists to supercharge our most ambitious founders. Blackbird partners with founders at the very beginning and surrounds them with other founders who have built successful technology companies before. We earn a front row seat to the best business stories of our time and then invest at every stage of their life. The firm was founded in 2012 and currently manages just less than half a billion dollars.
For more information visit: www.blackbird.vc