BUSINESS WIRE: DroneBase Secures $55 Million and Launches Next Stage of Advanced Inspection Under New Brand Zeitview
MITTEILUNG UEBERMITTELT VON BUSINESS WIRE. FUER DEN INHALT IST ALLEIN DAS BERICHTENDE UNTERNEHMEN VERANTWORTLICH.
- Valor Equity Partners joins previous investors in support of company growth and AI-enabled asset monitoring software development
- DroneBase rebranding as “Zeitview” to better represent expanding air and ground data capture solutions, and continued growth across energy and infrastructure markets, including the renewable sector
SANTA MONICA, Calif. --(BUSINESS WIRE)-- 07.02.2023 --
Further cementing its market leadership in advanced inspection software for energy and infrastructure, DroneBase has secured $55 million in investment and rebranded as Zeitview. Led by Valor Equity Partners, an operational growth investment firm backing technology and technology-enabled companies, the round was followed by existing investors Union Square Ventures, Upfront Ventures, Euclidean Capital, Energy Transition Ventures, and Hearst Ventures. The new funding will support the company’s AI-enabled software and global footprint in advanced inspection solutions. This announcement caps a year of rapid growth within the renewable sector, including the launch of the North American Solar Scan (NASS), the first standardized set of solar asset ratings to ensure better oversight of U.S. solar power plants. Last year, Zeitview inspected 43 GW of solar capacity.
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As Zeitview, the company will continue building advanced inspection software that delivers fast, accurate insights, lowers costs for asset owners and improves performance and longevity. The name change comes with the company’s increasingly diverse data capture tools: alongside rotary wing drones, Zeitview inspection professionals use crewed aircraft and smartphone technologies to create relevant, flexible solutions for clients. Its accompanying software platform with deep insights and analytics allows clients to easily view data results anywhere.
“We appreciate how important time is to our customers: on the one hand, they need immediate and accurate analysis about the health of their assets; on the other, they are building energy and infrastructure resources to last for decades,” said Dan Burton, founder and chief executive officer at Zeitview. “We are confident that our AI-enabled software solutions can deliver that immediate answer and a long-term home for our customers, while we are increasingly agnostic about what tool we use to capture the most accurate data. We are grateful that Valor recognizes the power of our comprehensive services to support customers to build, protect, and maintain infrastructure across multiple asset classes and around the world. They understand transformational energy and infrastructure software and embrace businesses that use technology to solve operationally complex problems.”
Valor’s partnership enables Zeitview to continue transforming the aerial inspection industry with emerging technologies and exclusive AI software. Valor’s hands-on operational track record with complex software-led companies bolsters Zeitview’s commitment to increasing data capture capabilities through automation.
“Valor has been a long-term champion of data science and analytics to improve businesses,” said Vivek Pattipati, Partner at Valor Equity Partners. “With Zeitview’s continued expansion of services and commitment to delivering accurate, real-time insights through advanced inspection software, we are naturally mission-aligned. We look forward to supporting Zeitview as they launch this rebrand and enter the next phase of aerial imagery and data solutions.”
Zeitview means “time view” and better captures the nature of the company’s services and mission to accelerate the transition to renewable energy and sustainable infrastructure. In addition to providing real-time data, Zeitview offers long-term solutions to track changes across a period of time for an asset. Zeitview remains committed to building on the foundation of market leadership in drone services while engaging new tools for the evolving needs of the customer base. With last year’s launch of the NASS, the ability to serve as a one-stop shop for asset owners across multiple markets, and a continually expanding network of pilots around the globe, Zeitview is trailblazing the future of information gathering without limits.
For more information on how Zeitview makes aerial inspection data accessible across markets, please visit www.zeitview.com.
For global customers in energy and infrastructure, Zeitview builds advanced inspection software that delivers fast, accurate insights, lowers costs, and improves asset performance and longevity. We are second to none at partnering with our customers to achieve flexible, long-term solutions across their multiple asset classes. Trusted by the largest enterprises in the world, Zeitview is active in over 70 countries. Learn more at www.zeitview.com.
About Valor Equity Partners
Valor Equity Partners is an operational growth investment firm focused on investing in high-growth companies across various stages of development. For decades, Valor has served its companies with unique expertise to solve the challenges of growth and scale. Valor partners with leading companies and entrepreneurs who are committed to the highest standards of excellence and the courage to transform their industries. For more information on Valor Equity Partners, please visit www.valorep.com.
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