Geosite was founded in 2018 with the goal of making spatial data more accessible to a wider range of users, beyond GIS experts. Our hypothesis was that these data sources, whether from drones, satellites, AI analytics, or IoT devices, could be used across a number of industries to increase operational efficiencies, generate cost savings, and improve overall business outcomes. With that idea (and some initial seed funding) we launched our very first application in 2019, Desktop Recon.
Since then, we have time and again seen our hypothesis proved correct as well as made some critical discoveries. I could have never guessed in 2018 that one of our largest customer bases would be insurance companies, yet today we’re pioneering the digital transformation of that industry. What is clear in every conversation I have with folks from across the defense, insurance, and energy sectors is that there is an enormous demand for geospatial software applications; we’ve only begun to scratch the surface of what is possible.
In addition to better understanding our product and market fit, since 2018 we’ve grown tremendously as a business. We’ve built incredible teams across data science, engineering, product, sales and company ops to help us achieve our goals. Let’s be clear: without each of you, none of this would be possible. We’ve developed internal processes and systems to help us operate more efficiently and transparently, and we codified our first ever Company Values statement to ensure we’re adhering to the ideals we hold most dear around data applications and usage.
I could not be more proud of all we have accomplished together, and in that spirit, I want to share some key highlights from the past twelve months that are setting us up to have our most successful year ever in 2022.
- Rachel Olney, CEO and Founder
It is impossible to fully capture all of the incredible achievements this team has accomplished over the past year, but here are a few highlights we want to share:
Geosite saw nothing short of enormous growth in 2021. We’ve hired 19 people between January 2021 and December 31, 2021. Today, nearly 60% of our company was hired in the past 12 months.
But as you all know, we’re not done growing and we’re thrilled to continue bringing on incredible people to join our team.
This year Geosite developed and codified our Company Values. Formalized in October, these values were developed collaboratively with input from the entire team over the course of the year and serve as our guiding principles as we continue to grow the team and the business. The five pillars of our company values are:
We value human life and dignity and the right to autonomy and privacy
We value balancing between the pillars of environmental sustainability, economic prosperity, and cultural enrichment
We value the rule of just law
We value the prosperity of Geosite, our teammates, and our customers
We value intellectual progress and earnest expertise
Our commitment to these values is steadfast and we encourage every member of the team to hold us accountable to them.
Ascend: In October, Geosite launched its infrastructure management application, Ascend. Ascend is currently supporting customers in both the insurance and energy industries.
Ascend for Methane Emissions: Launched in partnership with Amazon Web Services, Ascend is a cloud-based software application that enables energy companies to identify and mitigate methane emissions at a lower cost than ever before. Ascend fuses spatial data from disparate sources (such as aerial and drone imagery, loT devices, and satellites) alongside operational data into a single, easy-to-use environment.
Ascend for Insurance: Using nascent data and analytic sources, Ascend empowers actuaries to determine risk thresholds for underwriters in new markets, allows underwriters to craft data-driven policies for previously untapped customer bases, and for previously insured properties, enables more tailored policies that better reflect actual loss ratios.
Beacon: Beacon is our incident response application. Current use cases span the insurance and defense industries.
Mission Management Tool (MMT): A customized version of our Beacon application built for the Air Force Rescue Coordination Center (AFRCC), the MMT modernizes how AFRCC receives, triages, and coordinates Search and Rescue operations in the contiguous U.S.
Beacon for Insurance: Beacon allows claims teams to integrate and access existing claims data, weather, disaster, remote sensing data, and analytics to more rapidly and accurately process claims, allowing customers to get back on their feet as fast as possible, especially after a natural disaster.
Convoy: Initially built to aid Air Force Air Combat Command manage COVID-19 logistics, Convoy was re-launched in September for inventory management. Convoy is an enterprise-level SaaS solution that provides real-time awareness of the organization's supply and logistics operations so leadership can make informed resource management decisions within actionable time frames.
Air Force Rescue Coordination Center (AFRCC): In spring 2021, Geosite began working with the AFRCC to develop and deploy the Mission Management Tool (MMT). AFRCC is responsible for coordinating all Search and Rescue (SAR) operations in the lower 48 states. MMT is expected to reduce AFRCC’s incident triage and response times for potential life threatening scenarios to a matter of minutes, thus enabling AFRCC to more rapidly save lives.
Amazon Web Services (AWS): In November, Geosite and AWS announced their partnership to launch Ascend for monitoring and reducing methane emissions. Methane emissions are a significant contributor to climate change and often come from unforeseen leaks that must be constantly monitored using IoT devices, drones, satellites, and other data sources that traditionally rely on highly trained experts to aggregate and interpret. Ascend automatically tracks locations of high methane emissions, the scale and scope of incidents, and provides advanced analytics tools for predictive maintenance and incident response.
MS&AD: Throughout 2021, Geosite has worked closely with MS&AD to modernize their claims and underwriting workflows. Over the course of the year we have demonstrated how the integration of spatial data can lead to improved loss ratios, more efficient operations, and greater customer satisfaction. In 2022, we’re excited to continue this partnership to build out these software solutions.
Carahsoft: In September, Geosite and Carahsoft, a trusted government IT solutions provider, launched a partnership to streamline access to Geosite’s advanced spatial intelligence tools for Department of Defense (DoD), other federal, and state-level government customers.
Satellite and Remote Sensing Partners: From Maxar and Planet to GIC and Near Space Labs, Geosite worked with a record number of spatial data partners this year. We are immensely proud to bring the power of each of these exquisite sources to the world.
In July, Geosite successfully closed a $5M Series A round co-led by Lavrock Ventures and NextGen Venture Partners with participation from Bee Partners and MS&AD Ventures.
One of our lead investors noted, “The most exciting aspect of Geosite is the company’s ability to open the door to a new Geospatial Economy by making the growing amount of geospatial data easy-to-use for enterprise users in much the same way.”
As we look to 2022, we’re excited to continue this growth by driving efficiency and accuracy through spatial data and continuing to grow an incomparable team.