MappedIn has raised $1.51 million in seed financing to continue expanding internationally and developing its indoor wayfinding technology for businesses.
"Our top focus is helping clients manage, deliver and analyze their indoor spatial data,” said Hongwei Liu, co-founder and CEO of the five-year-old Waterloo Region company, which has yet to lose a customer.
MappedIn, whose customers include Oxford Properties, Brookfield Properties and Great West Life Realty, allows commercial property owners to digitize their floorplans, streamline facility management and enrich the experience for customers finding their way through indoor spaces. Its systems also help employees and visitors navigate these spaces.
The company recently installed its wayfinding platform at the 1.2-million-square-foot headquarters of cloud-computing giant Rackspace near San Antonio, TX., and is now working on the company’s campuses in the United Kingdom.
Liu said MappedIn has further “really exciting developments lined up around the world this year.”
The company expects to triple its revenue in the coming year due to the seed funding, which was secured last July from an undisclosed group of investors.
Last month, the Federal Economic Development Agency for Southern Ontario (FedDev) announced it would make a repayable contribution of up to $600,000 to help MappedIn to continue its growth at 305 King St. W. in Kitchener, where it employs 21 people full-time in a recently expanded space.
