NYC-based social mapping platform Citymaps announced a new series A1 equity financing yesterday, to the tune of $6 million. The announcement also coincided with the latest update to their proprietary platform, which allows users and communities to build collections of social maps.
“Citymaps 2.0 is our most significant update and provides users with a ‘one stop shop’ to create and discover social maps,” Founder & CEO, Elliot Cohen stated in a press release. “One out of every two people keep lists of places they want to remember – Citymaps makes it easier than ever to do this, and lets users take the information with them on-the-go.”
Citymaps, in essence, allows users to create easily searchable collections of places, or personal maps. A new feature, dubbed “collaborative maps,” makes it possible for groups of people to create collections together. ‘Personalisatoin algorithms’ make it possible for the mapmaking tools to ‘intelligently surface new places based on a user’s expressed interests, community inputs, and recommendations from friends and trusted sources,’ the release said.
The investment came from Nokia Growth Partners, Coatue Management, Acadia Woods LLC, and existing investors. As a result Paul Asel, Managing Partner at Nokia Growth Partners, will join the Citymaps board of directors.
“Citymaps fits well into a mobile-first world delivering contextual maps that are personalized, customizable and social,” said Paul Asel, Managing Partner at Nokia Growth Partners. “Personal, collaborative maps offer new ways to present and preserve information in a visually compelling map platform. Citymaps’ strong team and technology position the company well as a leader in social mapping.”
Already available on iOS through the App Store, the updated Citymaps app, launched yesterday is now available on Android through Google Play Store.
The app now goes global with over 80 million searchable ‘Points of Interest’ across 750 different categories of places, notes the news release with people from more than 100 countries creating personal or collaborative maps.
(Image credit: Citymaps)
