Mapbox Revenue, Valuation, Funding & Investors

Mapbox is valued at $1.3B as of September 2023.

Last Mapbox valuation

$1.3B

Series E · Sep 2023

Last Mapbox funding round

$280M

Series E · Sep 2023

Mapbox revenue

$100M

Series D · May 2020

Key investors in Mapbox

  • Foundry Group
  • SoftBank Group
  • Thrive Capital
  • Pritzker Group Venture Capital
  • DFJ Growth
  • DBL Partners

Mapbox Overview

About Mapbox

Mapbox is a San Francisco-headquartered location platform powering navigation and geospatial applications for developers worldwide. The company provides customizable map SDKs, search APIs, and routing engines enhanced by computer vision and machine learning for autonomous vehicles, logistics, and consumer apps. Mapbox supports AR experiences and offline maps, serving sectors like ride-hailing with Uber and delivery via DoorDash. Its data platform processes petabytes of global imagery and telemetry daily.


Founded

2010

HQ

United StatesWashington, DC

Website

mapbox.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription, Usage-based

Revenue

$100M (May 2020)

Valuation

$1.3B (Sep 2023)

Mapbox Valuation

Mapbox is currently valued at $1.3B, based on its Series E in September 2023.

The $280M round was led by SoftBank Group.

Mapbox's valuation has grown 6.4x from $203M at its Series B in June 2015 to $1.3B in September 2023, across 3 priced rounds.

Mapbox valuation by funding round

Revenue multiple
Mapbox valuation by funding round
DateStageValuationRevenue Multiple
Sep 2023Series E$1.3B-
May 2020Series D$1.2B12.0x
Jun 2015Series B$203M2.2x

Mapbox Revenue

Mapbox's latest recorded revenue is $100M, as of its Series D in May 2020. At a $1.2B valuation, that implies a 12.0x revenue multiple.

Revenue grew from $93M in June 2015 to $100M in May 2020, while the revenue multiple moved from 2.2x to 12.0x.

Mapbox revenue by funding round

Mapbox revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
May 2020$100M$1.2B12.0xSeries D
Jun 2015$93M$203M2.2xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Mapbox Funding History

Mapbox has raised a total of $614M across 5 funding rounds.

Mapbox's first fundraising round was a $10M Series A in October 2013. The most recent completed round was a $280M Series E in September 2023.

Mapbox funding rounds

Mapbox funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2023Series ESoftBank Group (lead)$280M$1.3BMapbox is a San Francisco-based location platform founded in 2010 that powers AI-enhanced navigation and mapping services for connected vehicles, mobile apps, and logistics companies. The platform serves as the underpinning technology for major automotive manufacturers including Toyota, General Motors, and BMW, while also supporting applications from consumer tech giants like Facebook and Snapchat for cloud-based location data services. On September 19, 2023, Mapbox closed a $280 million Series E funding round led by SoftBank Group Corp. and its affiliate, valuing the company at approximately $1.3 billion post-money. This round represented SoftBank's continued support of the company, having previously invested through its $100 billion Vision Fund in 2017 when Mapbox had achieved a $1.2 billion valuation in April 2020. The capital was intended to fuel investments into AI location services, scale global infrastructure, and further broaden Mapbox's footprint in the automotive industry as vehicles become increasingly autonomous and AI-driven. Mapbox had raised a cumulative total of approximately $614 million across eight funding rounds by the time of the Series E close, with this investment part of SoftBank CEO Masayoshi Son's broader artificial intelligence investment push following the successful listing of chip designer Arm, which provided the conglomerate with substantially increased capital for dealmaking in AI-focused companies.
May 2020Series DPremji Invest (lead)$107M$1.2BMapbox provides developer-centric mapping SDKs, navigation APIs, and geospatial datasets used in automotive, logistics, gaming, and consumer applications, positioning itself as a customizable alternative to large-scale mapping services. The company, founded in 2010 and based in San Francisco, has raised substantial funding across multiple rounds totaling around $500-600M from investors including SoftBank, DFJ Growth, Thrive Capital, and Premji Invest to support product innovation, global infrastructure expansion, and enterprise partnerships. Subsequent funding includes a Series E in September 2023 raising $280M at valuations reported between $1.8B and $1.84B led by SoftBank to enhance AI capabilities and global operations.
Oct 2017Series CSoftBank Group (lead); DBL Partners; Pritzker Group Venture Capital; Foundry Group; DFJ Growth; Thrive Capital$164M-Mapbox, a mapping and location platform provider for software developers, raised $164 million in a Series C funding round on October 10, 2017, led by SoftBank Vision Fund, with participation from existing investors Foundry Group, DFJ Growth, DBL Partners, Thrive Capital, and Pritzker Group Venture Capital. This brought the company's total funding to approximately $227-230 million, following a $52.6 million Series B in June 2015 led by DFJ Growth and a $10 million Series A in 2013 led by Foundry Group. The round was framed as a bet on Mapbox's role in emerging technologies like autonomous vehicles, AR/VR, and robotics, positioning it as an alternative to Google Maps. Mapbox offers customizable mapping tools, navigation, and location services powered by over 200 million miles of anonymized sensor data daily, serving 900,000 registered developers and reaching 350 million monthly users through apps in mobile, web, VR/AR, gaming, and automotive sectors. Clients include Lyft, Snap, and Mastercard. The platform emphasizes real-time mapping updates for traffic, roads, and satellite imagery, with a network effect driven by developer adoption. Proceeds were earmarked for international expansion in Europe, China, and Southeast Asia; building an automotive unit for in-car navigation and autonomous driving using deep learning and vision tech; and growing the AR/VR/gaming platform, particularly the Unity Maps SDK team. CEO Eric Gundersen highlighted SoftBank's understanding of location data's transformational role in AI-driven industries. SoftBank's Vision Fund, managed by Rajeev Misra, viewed Mapbox as foundational infrastructure for the information revolution, citing its decentralized live mapping capabilities. The investment aligned with Masayoshi Son's vision of AI, robotics, and the Singularity reshaping transportation and beyond. Mapbox's two-year gap since the last raise implied strong traction.
Jun 2015Series BDFJ Growth (lead); DBL Partners; Promus Ventures; Pritzker Group Venture Capital; Janis Krums; Foundry Group; Thrive Capital; Jon Winkelried$53M$203MMapbox, founded in 2010 in Washington D.C., develops customizable mapping platforms, SDKs, and APIs based on OpenStreetMap data, enabling developers to integrate advanced maps, navigation, and geospatial tools into apps for automotive, logistics, gaming, and consumer uses. The company positions itself as a flexible alternative to providers like Google and Nokia's Here, powering services for clients including Foursquare, Pinterest, MapQuest, Airbnb, Instacart, and Snap. On June 17, 2015, Mapbox raised $52.6 million (reported as $52.55M or $52.5M) in a Series B round led by DFJ Growth, with participation from DBL Partners, Foundry Group, Pritzker Group Venture Capital, Promus Ventures, Thrive Capital, Janis Krums, and Jon Winkelried. The post-money valuation was $202.6 million. Funds were allocated to expand the developer platform, grow global tech teams, acquire strategic data assets like accurate geocoding and satellite imagery, and enhance its mapping database. This round marked one of the largest investments in mapping and location startups at the time, following a $10 million Series A in 2013 from Foundry Group. By 2015, Mapbox had gained traction with thousands of developers and partnerships like MapQuest. Subsequent rounds included a $164 million Series C in 2017 (post-money around $664 million per one source), $133 million in 2020 ($1.2 billion valuation), and $280 million in 2023 ($1.8 billion valuation), with total funding exceeding $500 million from investors like SoftBank.
Oct 2013Series AFoundry Group (lead)$10M-Mapbox, a cloud-based mapping platform, raised $10 million in a Series A round led by Foundry Group on October 16, 2013. The company provides customizable, interactive maps for web and mobile applications using open-source tools and OpenStreetMap data. Prior to this round, Mapbox had bootstrapped for three years and received a $575,000 grant from the Knight News Challenge in 2012 to develop OpenStreetMap's mapping editor. Mapbox serves over 2,500 paying subscribers, including Foursquare, Uber, Evernote, GitHub, NPR, Hipmunk, USA Today, The Financial Times, and Greenpeace. The funding will expand its 35-member team across offices in Washington, DC, and San Francisco to accelerate engineering and pursue innovative mobile mapping features. CEO Eric Gundersen emphasized building a fast platform for advanced geo software ideas and negotiating revenue-share agreements with content providers. Foundry Group highlighted Mapbox's fit with API-driven developer products and its embrace of open data amid a proprietary mapping industry dominated by large companies. The investor was introduced via portfolio companies Pantheon and Gnip, valuing Mapbox's traction and potential to power data visualization across apps.

Who has invested in Mapbox?

10 investors have backed Mapbox across its funding rounds, including Foundry Group, SoftBank Group, Thrive Capital, Pritzker Group Venture Capital, DFJ Growth and DBL Partners.

Lead investors include SoftBank Group, Premji Invest, DFJ Growth and Foundry Group.


Mapbox Investors

Investors in Mapbox by funding rounds participated
InvestorHQRoundsRoleFirst check
Foundry GroupUnited StatesBoulder, CO3LeadOct 2013
DBL PartnersUnited StatesSan Francisco, CA2ParticipantJun 2015
Pritzker Group Venture CapitalUnited StatesChicago, IL2ParticipantJun 2015
SoftBank GroupJapanTokyo2LeadOct 2017
DFJ GrowthUnited StatesSan Francisco, CA2LeadJun 2015
Thrive CapitalUnited StatesNew York City, NY2ParticipantJun 2015
Promus VenturesUnited StatesChicago, IL1ParticipantJun 2015
Janis KrumsLatviaLatvia1ParticipantJun 2015

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Acquisitions by Mapbox

Mapbox has acquired 3 companies to date.

Last acquisition by Mapbox was on December 1st 2017. Mapbox acquired Fitness AR for undisclosed valuation.


Latest Acquisitions by Mapbox

Fitness AR
MapData
Humanco
Description
Fitness AR is a Boston-headquartered app leveraging ARKit and Mapbox for immersive route previews of Strava activities. Released in 2017 for iOS, it overlays 3D terrain from runs and bike rides onto real-world views. Users explore hikes virtually before setting out.
MapData is a Minsk, Belarus-based startup specializing in neural network-powered mapping technologies. The company builds AI models for high-resolution satellite image analysis, generating vector maps and 3D models for autonomous driving and urban development. Focused on Eastern Europe, MapData processes imagery from Sentinel and commercial providers to deliver centimeter-level accuracy in road extraction and building footprints.
Humanco is a mobile application that delivers personalized insights into daily behaviors to promote balanced living. Users track habits related to sleep, activity, nutrition, and mood through wearable integrations and self-logging features. The app analyzes data to offer tailored recommendations for health improvements, drawing from biometric patterns unique to each individual. Based in Sweden, it emphasizes user privacy with end-to-end encryption and operates on iOS and Android platforms. Humanco partners with wellness researchers to refine its algorithms, serving a growing community focused on preventive self-care.
HQ CountryUnited StatesBelarusUnited States
HQ City
San Francisco, CA
Minsk
San Francisco, CA
Deal Date1 Dec 20173 Nov 201718 Aug 2016
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Mapbox Competitors

Mapbox competitors include listed companies like CE Info Systems and Progress Software, and private ones like Radar, INRIX, Flightradar24 and Deepgram.

Public and private companies comparable to Mapbox
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RadarUnited StatesNew York City, NYPrivate--$365M-
INRIXUnited StatesSeattle, WAPrivate$136M-$710M-
CE Info SystemsIndiaIndiaPublicly listed$49M$20M$508M8.7x
Flightradar24SwedenStockholmPrivate$45M-$436M9.8x
DeepgramUnited StatesUnited StatesPrivate$240M-$1.3B-
Progress SoftwareUnited StatesUnited StatesPublicly listed$978M$302M$1.7B2.9x

Mapbox Public Comps

Mapbox is still privately-owned, but its public comps include Ituran Location & Control, Keytop Parking, Qt Group, Progress Software, C3.ai, Justsystems, Queclink, SuperMap, Horizon Quantum and Hanwang Technology Co.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ituran Location & Control$359M$93M2.6x2.4x10.2x8.8x
Keytop Parking$124M$29M7.5x-32.3x-
Qt Group$249M$62M4.3x3.9x17.3x16.0x
Progress Software$978M$302M3.0x2.9x9.6x7.3x
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Justsystems$331M$156M3.1x3.2x6.7x-
Queclink$133M$12M4.8x4.2x51.7x29.5x
SuperMap$225M$26M2.6x2.6x22.1x23.7x

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Common questions about Mapbox

When was Mapbox founded?Mapbox was founded in 2010.
Where is Mapbox headquartered?Mapbox is headquartered in Washington, DC, United States.
Is Mapbox publicly listed?No, Mapbox is a private, VC-backed company.
What is Mapbox's valuation?Mapbox was last valued at $1.3B in its Series E in September 2023.
How much funding has Mapbox raised?Mapbox has raised $614M across 5 funding rounds.
What was Mapbox's last funding round?Mapbox's last funding round was a $280M Series E in September 2023, led by SoftBank Group.
Who are Mapbox's investors?Mapbox's investors include Foundry Group, DBL Partners, Pritzker Group Venture Capital, SoftBank Group, DFJ Growth, Thrive Capital, Promus Ventures, Janis Krums, Premji Invest and Jon Winkelried.
What is Mapbox's revenue?Mapbox's latest recorded revenue is $100M (May 2020).
What is Mapbox's revenue multiple?Mapbox's latest valuation implies a 12.0x revenue multiple ($1.2B valuation on $100M of revenue).
Which companies are comparable to Mapbox?Companies comparable to Mapbox include Radar, INRIX, CE Info Systems, Flightradar24, Deepgram and Progress Software.
How many companies has Mapbox acquired?Mapbox has acquired 3 companies, including Fitness AR, MapData and Humanco.

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