Waterloo's Mappedin raises USD $24.5M for city-scale mapping
Mappedin has raised USD $24.5 million in growth equity financing led by Edison Partners, with participation from Betatron Venture Group.
The Waterloo, Ont. based indoor mapping company will use the funds to expand its spatial technology platform from individual buildings to city-scale indoor mapping deployments. It also plans to broaden access to its mapping infrastructure for first responders, safety organisations and large public venues.
Mappedin builds digital maps for indoor spaces, an area that remains far less developed than outdoor mapping. Its platform has mapped more than 10 billion square feet of indoor space across 86 countries.
Using artificial intelligence and LiDAR technology, the system creates and updates 3D digital maps of complex interiors. Those maps support navigation, facilities operations, security response and spatial data analysis across large sites.
Organisations using the platform include Simon Property Group shopping centres, Los Angeles International Airport and Major League Baseball stadiums. Hudson Yards is also among the destinations where its technology has been deployed.
Indoor Gap
While outdoor digital mapping has become widespread, indoor environments remain difficult to capture and maintain. Buildings are often privately owned, layouts change regularly and many operators still rely on static floor plans or disconnected software tools.
That leaves an opening for companies trying to build a live digital layer inside buildings. Mappedin is targeting that gap with a platform designed to keep indoor maps current and usable across commercial and public settings.
"We started by helping organizations solve basic navigation challenges inside large venues. Customers, however, are increasingly using these self-designed, dynamic, digital maps to do much more, from operational intelligence to security coordination," said Hongwei Liu, Chief Executive Officer and Co-Founder of Mappedin.
Investor View
Nashville, TN-based Edison Partners said the investment aligns with its broader focus on digital infrastructure and software businesses. Its other investments include 120Water, Budderfly, CleanDesign, Overhaul, RapidDeploy and Seismos.
The firm has invested in more than 270 companies, with more than half in vertical software and enterprise solutions. Edison targets high-growth software, financial technology, healthcare IT and marketplace companies outside Silicon Valley that generate USD $15 million to USD $50 million in revenue.
Expansion Plans
The new capital comes as Mappedin looks to move beyond venue-by-venue deployments. A city-scale approach would mark a broader ambition for indoor maps, especially in transport hubs, shopping centres, sports venues and public buildings where multiple sites and operators may need shared location data.
The company also highlighted access for emergency responders and safety organisations as part of the next phase of development. In practice, that suggests a use for indoor maps beyond consumer wayfinding, with greater emphasis on coordination and response within large or complex buildings.
Mappedin did not disclose the valuation attached to the financing. Edison Partners manages USD $2.2 billion in assets, according to company information.