Planet announced today that it closed its Series D fundraising in 2018, collecting $168 million in cash. The capital will be used to accelerate Planet’s business growth in the high and medium-resolution data markets, including developing Planet’s core data analytics products. High-resolution data, together with Planet’s unique medium-resolution daily, global imagery and analytics platform, combine to enable new products that serve customers in existing and emerging vertical markets. The round brings Planet’s total equity capital raised to $384 million.
Planet initiated the round with the purchase of Terra Bella from Google in a stock transaction. As previously announced at the time of the purchase, Planet signed a multi-year data contract with Google. Planet subsequently opened the round to financial investors.