Blockchain
SafeGraph Raises $45M Series B to Become the Ultimate Destination for Physical Places Data
SafeGraph, a data-as-a-service company focused on being the source of truth for data on physical places, announced today a $45 million Series B fundraise, led by Sapphire Ventures.
This investment follows a year of incredible growth for SafeGraph. While the market for accurate geospatial data was already accelerating pre-pandemic, the unique challenges posed by COVID-19 led many organizations to rely heavily on places data. SafeGraph’s points of interest and mobility datasets proved invaluable to organizations looking to understand how local landscapes continue to change, and how this impacted behaviors such as travel, leisure and shopping. During these uncertain times, many organizations such as Ares Management, Sysco and Choice Hotels have turned to SafeGraph as a truth set for the physical world.
In response to the impact of the pandemic, SafeGraph created a community of more than 7,000 data scientists who have been collaborating on numerous geospatial projects, resulting in over 300 academic papers published featuring data from SafeGraph and coverage from data journalists at major news outlets such as USA Today, Fortune and the Washington Post. During this time, SafeGraph doubled its year-over-year revenue while improving efficiency metrics, such as revenue per employee.
Over the past year, SafeGraph saw accelerated demand for places data among its traditional customer segments, including retail and GIS technology providers. As consumer demand and behavior shifted dramatically during the pandemic, the greatest increase in demand has come from the logistics industry. “From the beginning of our data sourcing process, SafeGraph provided the most comprehensive and actionable POI dataset,” said Ben Anderson, Senior Manager of Market, Customer, and Competitive Intelligence at Sysco. “Their coverage of the top 1,000 restaurants is unmatched and invaluable.”
“We’re incredibly excited to partner with Cathy Gao and the Sapphire Ventures team,” said SafeGraph CEO Auren Hoffman. “Cathy brings a wealth of knowledge to the table that will be invaluable while navigating and discovering new markets of data buyers. And Sapphire has deep experience in investing in data businesses. Their team understands what it takes to build category-defining companies.”
With this investment, SafeGraph plans to capitalize on the expanding market of data buyers and offer new ways for customers to buy data. As the market for places data increases, customer needs become more diverse. SafeGraph plans to adapt its model to meet these new demands. Through a growing partner network, new data delivery mechanisms and international expansion, SafeGraph will enable all interested parties to access the exact data they need, wherever they need it.
Multiple investors from previous funding rounds also participated in this Series B. Those include Alex Rosen of Ridge Ventures, DNX Ventures, and Peter Thiel. Investors are attracted to SafeGraph because they believe the company is well-positioned to lead a growing industry.
“What stands out about SafeGraph is how they’ve been able to quickly position themselves into a major player in the geospatial data industry,” said Cathy Gao, Partner at Sapphire Ventures. “By singularly focusing on providing the highest-quality places data to data science teams, they’ve earned the trust of some of the largest public and private institutions. The efficient growth to-date is a strong indicator of where we think the company is going and Auren’s track record of building consequential data businesses speaks for itself.”
Today, SafeGraph offers business listing, foot traffic and building polygon data for the United States and Canada, with a United Kingdom launch planned for April of 2021. With this Series B funding, SafeGraph intends to become the source of truth for data on all physical places in the world.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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