Carto announced the closure of a $61 million Series C round led by New York-based global venture capital and private equity firm Insight Partners, with participation from the European Innovation Council (EIC) Fund, as well as its existing investors Accel, Salesforce Ventures, Hearst Ventures, Earlybird, and Kibo.
The company will use the funding to further its cloud integrations to address rapid growth in a range of verticals, including retail, CPG, logistics, and telecoms.
Carto offers cloud native location intelligence and data analytics. Its Spatial Extension runs on top of major data warehouses (including Google BigQuery, Snowflake, Amazon Redshift and Databricks), allowing users to unify and spatially analyse their data in the cloud.
This allows clients to take advantage of cloud scalability and related benefits. Since Spatial SQL uses the same elements and structure as regular SQL, it is compatible with most modern analytics stacks.