SkyFi is a revolutionary platform that democratizes access to satellite imagery and analytics. To that end, it has just successfully closed a $12.7 million Series A funding round to get there. The company operates as a “Getty Images” for over 50 geospatial imagery providers. Thanks to overwhelming demand from the investing community, it kept raising its anticipated funding target before ultimately agreeing on a final number.
Founded by Luke Fischer and Bill Perkins, SkyFi aims to serve both commercial and government customers by offering valuable insights derived from satellite data. The platform has caught on quickly across a number of sectors, including finance, defense, infrastructure and insurance.
Fischer is quick to point out that they started shooting for $10 million from the outset. Due to overwhelming demand from investors, they increased the target to $12 million. The final closing figure of $12.7 million speaks to the incredible confidence investors have in SkyFi and what it can become.
SkyFi’s user-friendly platform lets anyone “task” satellites to snap images of any place on Earth at a specific time. With this capability, customers are able to get the most timely and relevant imagery possible, while ensuring it meets their specific needs. Fischer pushed the necessity of getting people answers as soon as possible, saying,
“Imagery is a commodity, or it’s closely becoming a commodity, so it’s not just about speed of delivery, but more importantly, speed of delivery of answers to customers.” – Luke Fischer
It’s this level of customer interest that SkyFi’s website and mobile app have made possible with their extreme level of accessibility. Fischer said he and his team were especially proud of designing a product that is as deeply capable as it is inherently approachable. He noted that SkyFi has continuously developed its analytical capabilities following client data requests. This natural evolution paves the way for the company to better position their own services to meet market demand.
“Our goal is providing answers for customers, both government and commercial,” Fischer said, highlighting the company’s mission to enhance decision-making through actionable insights derived from satellite data.
Competition in the satellite imagery industry has become increasingly fierce. Fischer understood that previously, it was an uphill battle for SkyFi to convince providers to open up their data. The company has been good at taking advantage of its growing network and hearing customer demand. To that end, it has created a strong nonprofit to support that platform, drawing the broadest audience possible.
“My teenage daughters task satellites for their high school, and now college, homework on their iPhones,” Fischer remarked, illustrating how accessible the technology has become. This accessibility further emphasizes SkyFi’s mission to democratize access to geospatial data and technology for both educational and professional use.
The past round of funding will allow SkyFi to enhance its offerings even more. The change comes as the company prepares to step up its analytical tools. It will increase its market penetration to better serve the changing needs of its customers.
Among its investors is the global quality assurance and risk management company DNV. An unnamed strategic investor participated in the funding round. This level of participation is a powerful affirmation of SkyFi’s vision to drive the future of geospatial analytics.
SkyFi’s platform really stands out because it’s extremely easy-to-use. It’s successful by leveraging strategic relationships with multiple imagery producers. By combining all of these resources together, SkyFi is able to provide you with holistic insights that are incredibly important for making smart decisions across any industry.
