Tel Aviv-based 4M Analytics, which aims to be the Google Maps of the US’ underground utility infrastructure, raised $30M, bringing its Series A total to $45M (Nvidia Omniverse Enterprisewheatleysiliconangle)

Nvidia Omniverse Enterprisewheatleysiliconangle: The last two years have seen a surge in venture capital investments into technology companies, with many of these investments occurring in the US. One company that effectively harnesses that investment is Tel Aviv-based 4M Analytics, which aims to be the Google Maps of the US’ underground utility infrastructure. The company has raised $30M to date, after raising an initial $2.1M seed round in 2016. Today, the company announced that it has raised a further $30M from Korelya Capital and existing investors including Lightspeed Venture Partners, OurCrowd and Magma VC.

The company will use the fresh cash to accelerate its growth across the US through a combination of organic hiring and M&A. 4M Analytics was founded in 2013 by four Israeli ex-military friends with experience in geospatial technology for infrastructure security. Nearly four years since its inception, the company now employs 70 and has offices across the US with plans to open a London office this year.

4M Analytics CTO Amit Hadany said: “4M Analytics is on the threshold of growing exponentially through organic hiring and M&A. Today our team is bigger than ever, and with Korelya Capital’s investment we are well positioned for an even bigger next chapter. The leading edge of the telecom industry is investing heavily in new visual, real time technologies that provide unparalleled user experience and innovative business models. We have proven a unique position not only in this industry but also as a trusted player on the US government’s procurement list. The strategic partnership with Korelya Capital will be instrumental in leveraging both our existing and our upcoming capabilities to benefit the market. We are continuing to grow our team and our capabilities in both the US and Israel, and plan to bring on new partners in Europe as well as Asia over the next year.”

The funding will also be used to accelerate penetration into new markets and increase data accuracy through the introduction of 5G Technology and machine learning. In addition, with the success of its recent pilot with a major utility company in Oklahoma, 4M Analytics plans to roll out technology into other utility markets across America. This will include the federal government’s procurement processes and the smart grid infrastructure of utilities in more than 30 states where 4M Analytics already has customers.

Korelya Capital Partner and Managing Director Kobi Gartner said: “4M Analytics is one of Korelya’s largest investments to date as well as a solid candidate for our follow-on fundraise. The company has an exceptional management team, a solid technology platform, a thriving customer base and significant growth potential. We are proud to partner with them as we look forward to a successful future with 4M Analytics.”

Lightspeed Venture Partner and Managing Director Tamer Naguib added: “4M Analytics is a perfect acquisition for Lightspeed’s portfolio. Its geospatial platform is already used by many of the world’s leading telecom companies, and the market for location based services will continue to expand at a rapid pace. 4M Analytics has proven itself as a leader in its space, delivering the latest in visual technology while maintaining excellence in accuracy.