11 December 2019:

PrecisionHawk, Inc., today announced that it has raises $32 million from venture investors including Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and others.

The company will use the fresh capital for continued innovation in it’s software tool PrecisionAnalytics. The funding will also be used to accelerate sales initiatives and further market expansion.

Michael Chasen, CEO of PrecisionHawk, said, “This is an exciting time at PrecisionHawk and the commercial drone industry overall as adoption of drones continues to grow at exceptional rates.”

Michael Chasen, aded, “Our unique software and services deliver incredible value to our customers, equipping them with the highest level of aerial intelligence to meet their current and future asset management and operating needs. We are pleased with this latest round of funding which will help us better address this surging demand, particularly in the energy and agriculture markets, and lead us into sustained profitability and growth.”

Sam Schwerin, co-founder and Managing Partner of Millennium Technology Value Partner., said, “We are excited to continue our support of PrecisionHawk during this next phase of its growth. The feedback from customers has been very promising and we believe PrecisionHawk is well positioned to capitalize on the huge market opportunity ahead of it,.”

Sam Schwerin, added, “PrecisionHawk’s powerful PrecisionAnalytics software applies the latest generation of artificial intelligence to aerial data unlocking the data’s potential to accelerate and optimize work for the enterprise.”

Brian Wynne, President and CEO of the Association for Unmanned Vehicle Systems International (AUVSI), said, “Investments such as this one underscore the tremendous potential of the UAS industry to deliver new applications and services across business sectors. The demand for UAS technology is remarkable and demonstrates the great confidence investors have in a solid and growing market for years to come.”

(Image – PrecisionHawk)

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