Measure, the nation’s leading Drone as a Service® operator, announced today that it has raised $15 million in Series B financing with LionTree Advisors acting as the financial advisor. Cognizant Technology Solutions joined the company’s original investors.
Measure has an innovative business model: it has created anational network of licensed pilots who “provide turnkey solutions to acquire, process, and deliver actionable aerial data” to customers. Measure provides franchise opportunities for licensed independent drone operators, supplying business and application specific training.
The company boast that Measure drone pilots flew over 1,000 flights in 2016. Applications included inspections, precision agriculture, disaster response, media, and others.
“Our vision for the company has always been to provide safe, legal, and insured operations at scale for enterprise organizations,” said Measure Chairman Robert Wolf. “We have an innovative business model, an amazing team, and now the capital to reach our desired scale. We hope to propel the entire industry forward with our growth.”
“Drone services is one of the fastest growing technology segments with the potential to provide extraordinary value to industries such as insurance, manufacturing, logistics, oil and gas, retail, government, and media and communications. Cognizant is excited to deepen our relationship with Measure through this investment and bring our world-class digital capabilities, such as advanced data analytics and software development, to enterprise customers looking to create value from data collected via drones,” said Sean Middleton, President of the Cognizant Accelerator, of which Cognizant Ventures is a division.
“This is a tremendous moment for Measure and for the drone industry and we believe 2017 is when everyone pivots towards services. This investment round will help make it possible to expand to new customers; we look forward to continuing to work with Cognizant to offer new, innovative services around data analysis not currently available in the market,” said Brandon Torres Declet, CEO of Measure.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
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