Big news from our brand new SoMa headquarters: I’m pleased to announce a first closing of a planned $70 million Series C round led by Data Collective. This financing includes a debt facility of $25 million from Western Technology Investment, bringing the total financing to $95 million. I’ve gotten to know Matt Ocko and Zack Bogue well and they’ve added a lot of value as our company has grown. We are thrilled that they’ve stepped up in a big way to lead our Series C. Zachary Bogue, Data Collective’s Co-Managing Partner, will join our board.
This financing comes in the wake of our successful launch of 73 satellites, customers actively using our data, and the recent hiring of Tom Barton as our Chief Operating Officer. Tom was formerly CEO of Rackable Systems (now SGI) and boasts over 25 years of experience managing and advising hardware and software companies.
Take a look at what our returning investors are saying:
“We’re proud that Planet will be our first investment in the DCVC Opportunity Fund, which supports the truly exceptional growth-stage companies in DCVC’s portfolio. The Planet team has driven their company from a brilliant idea in a garage to one of the world’s top ten overall space powers in less than three years, with customers, revenue, and technological advantage commensurate with that position.”
— Matt Ocko, co-Managing Partner of Data Collective
“Planet Labs is on its way to becoming the next great commercial space company.”
— Steve Jurvetson, partner at DFJ; and Board Member of Planet Labs, SpaceX, and Tesla
With strong support from new and returning investors, Tom on board the management team, and a brand new headquarters in the heart of San Francisco, we’re primed to deliver more insights about our changing planet in 2015.
Learn about Planet Labs’ humanitarian, environmental, and enterprise offerings here.