Country for PR: United States
Contributor: PR Newswire New York
Wednesday, July 22 2020 - 00:12
Propeller Closes $18M in Series B Funding and Announces New Board Member, Roz Buick
DENVER, July 22, 2020 /PRNewswire-AsiaNet/ --

Propeller, a 3D mapping and worksite analytics company that builds hardware and 
software to simplify data capture, processing, and analysis for construction, 
aggregates, mining, and waste management worksites, announced today that they 
have raised $18 million in Series B funding.

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This round was co-led by Blackbird and Costanoa Ventures, long-time supporters 
and advocates of Propeller who displayed tremendous conviction in their 
decision to back Propeller amidst COVID-19-related uncertainties. 

"Costanoa Ventures has been a proud investor at Propeller from the seed round 
until today, and are excited to see the significant progress at the company," 
said Mark Selcow at Costanoa Ventures. "We initially invested because we saw an 
enormous opportunity for improvement in the management of large construction 
and earth moving projects, and believed in the superiority of the Propeller 
technology. We have continued to invest as we have seen the company emerge as 
category leaders, operate at high standards of excellence, and show real 
dedication to their customers. Propeller is firing on all cylinders."

When asked what prompted the decision to seek additional capital, Rory San 
Miguel, CEO and co-founder of Propeller, cites two major forces at 
play—capacity to scale at a greater velocity and the launch of a new product 
called DirtMate( 

DirtMate, a machine tracking system that collects progress and productivity 
data in real time, is currently in beta, but well-poised to make its mark on 
the earthmoving industry upon official release, which is projected for Q1 of 
next year. 

"Our new product DirtMate is the real-time complement to our existing 
workflow," explains San Miguel. "We've taken our existing GPS technology and 
created a version that's easy to install on every earthmoving machine. As each 
machine is moving across the worksite, moving dirt, we track elevations to 
build surfaces in real-time, within a few centimeters of accuracy. With 
DirtMate, we move from being a retrospective tracking solution to a solution 
that can detect issues and suggest improvements in real time."  

From Q1 to Q2, Propeller experienced a historic uptick in platform engagement, 
with a 40% quarter-over-quarter increase in the number of surveys uploaded to 
the Propeller Platform( 

"Propeller is one of the fastest-growing companies in our portfolio at a large 
scale, but more importantly is building a special culture that will allow it to 
make a large impact for many decades to come," stated Niki Scevak, partner at 
Blackbird Ventures. "Blackbird is delighted to further empower the mission of 
Propeller and to allow large earthworks industries to take giant leaps forward 
by ingraining technology into their core operations." 

Propeller also announced today that Roz Buick, a thought leader and advocate 
for digital transformation in construction who served as Senior Vice President 
at Trimble for over 24 years, recently joined the Propeller board. Roz ran the 
heavy civil construction division at Trimble for nine years and was 
instrumental in establishing the SITECH channel partners—a wealth of relevant 
experience and relationships that she has since brought to the Propeller board. 

Today, just a short while into its lifetime, the 138-strong Propeller team 
powers more than 4,000 worksites every month, stretched across over 50 
different countries.

"All of this is made possible by Propeller's epic team and epic customers who 
are ridiculously generous with their time in helping us solve real problems on 
site," says San Miguel. "It's very exciting to see Propeller hit its stride. We 
have a lot to be proud of and lots more to do." 

About Propeller
Propeller's world-class drone analytics solutions help people measure and 
manage their sites themselves. Heavy civil construction and resources 
operations trust Propeller to track site changes safely and accurately, with 3D 
visual tools that everyone can use. Propeller gives teams the full picture, 
empowering people to go deeper, do more, and work together better. 

For media inquiries, please contact Bri Ivar at

SOURCE: Propeller