PolicyMap, Inc, a leading geographic data and analytics company based in Philadelphia, just announced the close of a $ 3 million Series A financing round.
PHILADELPHIA, Dec. 19, 2023 /PRNewswire/ -- PolicyMap, Inc., a leading geographic data and analytics platform, today announced the close of a $3 million Series A financing round, led by existing investor Reinvestment Fund and joined by Ben Franklin Technology Partners, Spring Point Partners, PolicyMap Board Members, Employees, and Friends and Family.
PolicyMap is used by more than 650 organizations and companies including government agencies, health-related entities, banks, universities, real estate corporations, nonprofits, and consultants.
"At PolicyMap, we aim to be the most trusted resource for geographic data in the United States. We are committed to making our data readily available and easily accessible across our suite of offerings, from the PolicyMap SaaS application to data licensing services and seamlessly embedded mapping tools. We are investing in our data infrastructure and bringing new products to market, which will aid in our quest to both quickly onboard valuable content and easily get it into the hands of our customers through new innovative channels," said CEO and Founder, Maggie McCullough. "Empowering decision-makers in diverse markets across the country has always been the core of our mission, and this strategic investment will propel us to achieve that objective."
The new capital will also be used to scale growth through investment in new sales and marketing expertise which will amplify PolicyMap's customers' core use cases: community and market intelligence, site selection optimization, impact evaluation, and go-to-market strategies.
"The raise reflects PolicyMap's stellar growth prospects as it successfully enters into new markets and its ability to deliver data to companies and organizations in new ways that drive deeper insight into the workings of the nation's neighborhoods," said Mark Zandi, Chief Economist at Moody's Economy.com, PolicyMap Board Chair and shareholder.
"I couldn't be more excited about Reinvestment Fund's follow-on round of investment in PolicyMap," said Don Hinkle Brown, CEO of Reinvestment Fund. "We spun PolicyMap off as a for-profit in 2018, knowing that their value expands beyond markets we traditionally serve. The additional capital allows them to continue to build out their offerings while deepening their footprint in new markets like healthcare."
About PolicyMap
PolicyMap simplifies analyzing geographic data. To meet the demand for authoritative, relevant, current location data, PolicyMap offers a mapping application, an analytics platform, and data licensing services. Our tools are used across industries for market intelligence, site selection, impact evaluation, product development, and academic research. PolicyMap has offices in Philadelphia, PA and Los Angeles, CA. For more information, please visit our website https://www.policymap.com. For press inquiries, reach Faith Zaki, Director of Marketing at: [email protected].
About Reinvestment Fund
Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people. We bring financial and analytical tools to partnerships to ensure that people in communities across the country have the opportunities they strive for affordable places to live, access to nutritious food and health care, schools where their children can flourish, and strong local businesses that support jobs. We use data to understand markets and how transactions can have the most powerful impact, consistently earning us the top Aeris rating of AAA for financial strength and four stars for impact management. Our asset and risk management systems have also earned us an A+ rating from S&P. Since our inception in 1985, Reinvestment Fund has provided over $2.7 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities.
Learn more at reinvestment.com. For press inquiries, reach Tiffany Patterson, Managing Director of Strategic Communications at: [email protected].
About Ben Franklin Technology Partners
Ben Franklin Technology Partners of Southeastern Pennsylvania (Ben Franklin) is the Philadelphia region's Partners with a Purpose. Nationally ranked among the most active seed and early-stage investors, Ben Franklin helps high-growth innovative enterprises plant and nurture their roots, creating both immediate connections and lasting economic growth. The nonprofit has supported more than 2,000 companies to deliver an impact of more than $5 billion and 32,000 jobs in the Philadelphia region. Whether in tech, life sciences, manufacturing, or industries and breakthroughs yet discovered, Ben Franklin works to raise the community of innovation higher, to benefit present and future generations of Pennsylvanians.
About Spring Point Partners
Founded in Philadelphia, Spring Point Partners is a social impact organization that invests in the transformational leaders, networks and solutions that power community change and advance justice. They do this by seeking out and supporting community leaders who have the vision to see what's possible and the drive to make that real; connecting the experience of partners with comprehensive and flexible supports for shared learning and impact; and investing in innovative ideas and adaptive solutions that can spark and scale change for all. Whether they're partnering on youth development, equity in learning, animal welfare or water sector leadership or investing in new business models that close opportunity gaps and boost social and economic mobility, they center equity and justice in all they do — supporting individuals and ideas that can have a catalytic impact in their communities and on our society.
SOURCE PolicyMap
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