5th November 2015

GeoSpock completes £3.5m Series A fundraising

Nicholas Lawrence

On 5th October 2015, GeoSpock, one of our first ever resident innovators at the Geovation Hub announced the closure of its series A investment round, totaling £3,500,000. Our team here at the Hub were thrilled when we heard about their success.

“The search engine for the physical world” as GeoSpock likes to be known, raised the cash from a string of the UK’s number one entrepreneurs including the likes of Dr. Jonathan Milner, Deputy Chairman and founder of global biotech company AbCam plc, who described the GeoSpock team as “super smart boffins” who have “cracked the problem of scaling geolocation.”  Dr. Darrin Disley, CEO of personalised medicine firm Horizon Discovery Group plc, Parkwalk Funds and Cambridge Innovation Capital, Sir Michael Marshall, Executive Chairman of Marshall of Cambridge and Mr Richard Youngman, Partner at Anvil Partners complete the investment syndicate.

GeoSpock is going to use the investment funding to expand its world-class computer science team, who are developing its cloud and containerised database products designed for extreme-scale, rapidly-changing and complex data.

 

How did we discover GeoSpock?

Mike Murphy, Chief Operations Officer for GeoSpock was introduced to Catherine Armour of Geovation by John Abbott in February 2015, as a result of a discussion about the large amounts of data being generated from ‘Internet of Things’ type devices, and Ordnance Survey (OS) evolving product propositions and associated technical needs.

Meeting Mike and Steve Marsh, Founder and CEO at their base in Cambridge, it was clear that GeoSpock was developing a cloud-based processing platform that, with the support of the Geovation Hub, could quickly begin to address the emerging and mounting needs of geospatial data processing in real-time and at extreme-scale.

Now as resident innovators at the Geovation Hub, GeoSpock are working with us to power the solutions being created by our geo-spatial experts who have set-up home here, by giving them free access to GeoSpock’s scalable, real-time, geospatial database service that’s proven to be at least fifteen times faster than other location database services. Our array of geospatial developers will be able to put OS data to the test and see how the database literally “fits right in” to their projects.

Developers will be able to perform real-time geo-fencing on dynamic data, seeing how devices, or people interact with other moving objects, regardless of how much data there is or how fast it is changing. For our web and mobile app developers who require millisecond response times for location based analytics, GeoSpock can provide the real-time database accelerator that gives their customers a truly interactive user experience.

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The long-term mission of GeoSpock is to become the ‘go-to’ search solution for complex, multi-dimensional big data, extending the reach of the technology and bringing the same speed, scalability and simplicity advantages to applications including weather modelling, facial recognition, voice recognition and DNA sequencing for healthcare.

 

Steve Marsh CEO and co-founder of GeoSpock commenting on the announcement said:

“At GeoSpock we believe in making the world we live in more intuitive through the use of technology. With the exponential growth in data and information from devices on the Internet of Things – 15 billion at the last count – new approaches are needed to make sure the value inherent in this data can be realised in real-time. GeoSpock’s technology lets companies gather, store and analyse these new dynamic data sources immediately. It’s a new, evolutionary approach that doesn’t suffer from the bottlenecks of the current generation of databases.

In a world that is rapidly changing and has the number of connected mobile devices growing exponentially, we knew we had to solve the scalability challenges. Google has managed to maintain consistent sub-second query times regardless of how big the web grows; we are currently achieving the same consistent sub-second query times (across 10,000 concurrent searches) regardless of how large your geospatial dataset grows or how rapidly it changes – and we wanted to do this while still keeping costs low.”

More at geospock.com