PrecisionHawk Funding, Investors & Competitors

PrecisionHawk has raised $136M across 5 funding rounds, most recently a $32M Series E in December 2019.

Last PrecisionHawk funding round

$32M

Series E · Dec 2019

Cumulative funding PrecisionHawk raised

$136M

across 5 funding rounds

Key investors in PrecisionHawk

  • Millennium Technology Value Partners
  • Intel Capital
  • IU Ventures
  • Verizon Ventures
  • Third Point Ventures
  • Eastward Capital Partners
  • Bob Young
  • Comcast Ventures

PrecisionHawk Overview

About PrecisionHawk

PrecisionHawk is a Raleigh, North Carolina-headquartered provider of drone data platforms for agriculture, energy, and construction. The company operates the DataMapper software for UAV imagery processing and owns Terraserver satellite data alongside LATAS airspace management. Serving clients like Duke Energy and John Deere, it processes petabytes of multispectral data yearly. Founded in 2010, PrecisionHawk acquired Kespry in 2021 to expand enterprise fleets.


Founded

2010

HQ

United StatesRaleigh, NC

Status

Privately held

Customer focus

B2B

Revenue model

Subscription, Usage-based

PrecisionHawk Funding History

PrecisionHawk has raised a total of $136M across 5 funding rounds.

PrecisionHawk's first fundraising round was a $1M Series A in August 2013. The most recent completed round was a $32M Series E in December 2019.

PrecisionHawk funding rounds

PrecisionHawk funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2019Series EMillennium Technology Value Partners (lead); Eastward Capital Partners; Third Point Ventures$32MPrecisionHawk, a Raleigh, North Carolina-based commercial drone technology provider founded in 2010, announced a $32 million Series E funding round on December 11, 2019, led by Millennium Technology Value Partners with participation from Third Point Ventures, Eastward Capital Partners, and others. The company offers an integrated platform of drone and sensor hardware, flight software, and analytics services under PrecisionAnalytics, which applies AI and machine learning to aerial data for enterprise applications in agriculture, energy, telecommunications, and infrastructure inspection. Customers use PrecisionHawk's solutions for tasks like crop counting, plant health assessment, yield maximization, tower inspections, and electricity line monitoring, with hardware including models like the BirdsEyeView FireFLY6 Pro and DJI Matrice series. The funding was intended to fuel innovation in PrecisionAnalytics, accelerate sales initiatives, expand market presence, and support further UAV deployments to meet surging demand in energy and agriculture sectors. CEO Michael Chasen highlighted the company's role in equipping enterprises with aerial intelligence for asset management, aiming for sustained profitability and growth amid rapid commercial drone adoption. Investors like Millennium's Sam Schwerin praised customer feedback and PrecisionHawk's positioning in a massive market opportunity. By the time of the round, PrecisionHawk had raised over $130 million cumulatively from venture capital, evolving from fixed-wing aircraft production to a full-service drones-as-a-service provider involved in policy and technology development for commercial drones. The U.S. FAA projected the commercial drone fleet to reach 823,000 by 2023. Later developments included over $100 million raised by 2018, the 2019 round bringing totals to around $136 million, acquisition by Norwegian firm Field in March 2023, and eventual Chapter 7 bankruptcy filing in December 2023 with $17 million in debt and $3.8 million in assets.
Jan 2018Series DThird Point Ventures (lead); Syngenta Ventures; Comcast Ventures; Verizon Ventures; OMERS Ventures; DuPont Ventures; ClearSky; Constellation Technology Ventures; Millennium Technology Value Partners; Senator Ventures; Intel Capital$75MPrecisionHawk, a Raleigh, North Carolina-based provider of drone technology for enterprise applications, raised $75 million in a Series D funding round on January 24, 2018, led by Third Point Ventures. New investors included Comcast Ventures, Senator Investor Group (or Senator Ventures), Constellation Technology Ventures, and Syngenta Ventures, with participation from existing backers such as Intel Capital, Millennium Technology Value Partners, DuPont Ventures (or DuPont), Verizon Ventures, OMERS Ventures (via related funds), and Indiana University's Innovate Indiana Fund. This brought the company's total funding to over $100 million since its founding in 2010, positioning it as the most well-capitalized commercial drone company at the time. The company offers drone hardware, sensor technology, and analytics platforms, initially focused on fixed-wing agricultural drones for aerial data collection but expanding to serve industries like agriculture, energy, insurance, construction, and government. Syngenta and DuPont, both customers since 2015, highlighted the platform's ability to augment and replace manual processes for more efficient operations. PrecisionHawk serves Fortune 500 companies and leaders in 150 countries. Funds from the round were earmarked for team expansion, product innovation, strategic acquisitions, and fostering global adoption of commercial drones amid a friendlier regulatory environment and projected market growth. CEO Michael Chasen emphasized the investment's validation of drones' potential to transform industries beyond just the drone sector itself. Previous rounds included an $18 million Series C in April 2016 and $10 million Series B in November 2014. The drone-powered aerial data and safety platform saw interest from big tech and ag giants, with Verizon Ventures continuing support from its first agtech investment in PrecisionHawk's Series B. While funding for ag-focused drone tech had dipped, outlooks remained bullish for enterprise applications like construction and oil & gas. PrecisionHawk later raised additional rounds, including $32 million in December 2019.
Apr 2016Series CVerizon Ventures (lead); IU Ventures; Yamaha Motor Ventures; USAA; NTT DOCOMO Ventures; Millennium Technology Value Partners; Intel Capital$18MPrecisionHawk, founded in Canada in 2010, is a drone technology company providing aerial data collection and analysis services for enterprise customers. The company initially made its mark with Lancaster fixed-wing drones for agricultural applications, offering data gathering capabilities with customizable sensors including visual, thermal, and lidar options. In April 2016, PrecisionHawk closed an $18 million Series C funding round led by Verizon Ventures, with participation from Intel Capital, NTT Docomo Ventures, Yamaha Motor Ventures, USAA, and earlier backers Millennium Technology Value Partners and the Innovate Indiana Fund. CEO Bob Young, formerly of Red Hat, aimed to establish PrecisionHawk as the leading provider of data and safety services for the commercial drone industry. The company offered a freemium version of its DataMapper platform alongside premium "platinum" accounts priced at $95 per month for up to 750 gigabytes of aerial data storage and analysis. Beyond agriculture, PrecisionHawk was expanding into oil and gas, mining, insurance, search and rescue, forestry, and telecommunications, while developing an air traffic control system in partnership with the FAA, NASA, Verizon, Digital Globe, and Harris. Prior to the April 2016 Series C, PrecisionHawk had raised $11 million across earlier rounds.
Sep 2014Series BMillennium Technology Value Partners (lead); IU Ventures; Bob Young; Intel Capital$10MPrecisionHawk, an Indiana-based company specializing in unmanned aerial vehicles (UAVs) and cloud-based data collection software, closed a $10 million Series B funding round on September 18, 2014, led by Millennium Technology Value Partners, with participation from Bob Young, co-founder of Red Hat, and the Innovate Indiana Fund. Intel Capital later joined the round. The funding supported plans to double the workforce, open a new office in College Station, Texas, in partnership with Texas A&M focusing on insurance and emergency response, and launch the commercial DataMapper platform for data processing, management, and analytics by late September 2014. PrecisionHawk serves Fortune 500 companies, government agencies, and educational institutions in industries including agriculture, insurance, energy, forestry, and environmental protection. The company's platform bridges aerial data from UAVs equipped with 15 sensor types and fixed-wing platforms to actionable insights via intensive analysis. It positioned itself as an information delivery solution beyond just hardware, targeting civilian applications like farming amid growing demand for resource management technologies. Post-funding, PrecisionHawk named Indiana its agriculture headquarters due to ties with Indiana State University, Indiana University, and Purdue University, leveraging the state's agricultural leadership. Intel Capital's involvement brought technological resources to enhance product development for global clients, with plans for a new fixed-wing UAV model, the Lancaster Mark IV, in early 2015.
Aug 2013Series AIU Ventures; Bob Young; Eastward Capital Partners$1M-

Who has invested in PrecisionHawk?

17 investors have backed PrecisionHawk across its funding rounds, including Millennium Technology Value Partners, Intel Capital, IU Ventures, Verizon Ventures, Third Point Ventures and Eastward Capital Partners.

Lead investors include Millennium Technology Value Partners, Third Point Ventures and Verizon Ventures.


PrecisionHawk Investors

Investors in PrecisionHawk by funding rounds participated
InvestorHQRoundsRoleFirst check
Millennium Technology Value PartnersUnited StatesNew York City, NY4LeadSep 2014
IU VenturesUnited StatesUnited States3ParticipantAug 2013
Intel CapitalUnited StatesSanta Clara, CA3ParticipantSep 2014
Bob YoungUnited StatesRaleigh, NC2ParticipantAug 2013
Verizon VenturesUnited StatesBasking Ridge, NJ2LeadApr 2016
Eastward Capital PartnersUnited StatesBoston, MA2ParticipantAug 2013
Third Point VenturesUnited StatesNew York City, NY2LeadJan 2018
Syngenta VenturesSwitzerlandBasel1ParticipantJan 2018
Comcast VenturesUnited StatesSan Francisco, CA1ParticipantJan 2018
Yamaha Motor VenturesUnited StatesDetroit, MI1ParticipantApr 2016
USAAUnited StatesSan Antonio, TX1ParticipantApr 2016
OMERS VenturesCanadaToronto1ParticipantJan 2018
DuPont VenturesUnited StatesWilmington, DE1ParticipantJan 2018

This data is available for Pro users. Sign up to see all 17 PrecisionHawk investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Acquisitions by PrecisionHawk

PrecisionHawk has acquired 5 companies to date.

Last acquisition by PrecisionHawk was on November 2nd 2018. PrecisionHawk acquired Uplift Data Partners for undisclosed valuation.


Latest Acquisitions by PrecisionHawk

Uplift Data Partners
InspecTools
Hazon Solutions, LLC
Droners.io
Description
Uplift Data Partners is a Chicago-based drone services provider established in 2015 that delivers aerial data analytics to the architecture, engineering, and construction industry. The company operates fleets of DJI drones for site surveys, progress tracking, and 3D modeling, integrating insights into platforms like Autodesk BIM 360. Uplift Data Partners manages full workflows from flight planning to enterprise reporting for projects in the United States.
InspecTools is a provider of aerial inspection platforms for wind turbine blades headquartered in the United States. The purpose-built drones capture high-resolution imagery for damage assessment, eliminating rope access risks. Operating globally since 2010, the system inspects blades up to 100 meters long at speeds of 10 meters per second. InspecTools serves major operators like Vestas and Siemens Gamesa, completing 5,000+ inspections annually with 99 percent uptime.
Hazon Solutions, LLC is a Virginia-based provider of small unmanned aerial vehicle services for industrial inspections. It develops training programs, safety protocols, and operational capabilities for clients in energy and aviation sectors. Drawing from naval carrier aviation experience, Hazon supports Fortune 1000 firms with sUAV deployments for asset integrity checks.
-
HQ CountryUnited StatesUnited StatesUnited StatesUnited States
HQ City
Chicago, IL
Santa Cruz, CA
Norfolk, VA
-
Deal Date2 Nov 20185 Sep 20185 Sep 20188 Feb 2018
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all PrecisionHawk acquisitions and their M&A valuation multiples.

Start Free Trial

PrecisionHawk Competitors

PrecisionHawk competitors include listed companies like SenseTime Group, Presight AI, UBtech Robotics and Infleqtion, and private ones like Quantum Systems and Generalist AI.

Public and private companies comparable to PrecisionHawk
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Quantum SystemsGermanyGilchingPrivate$330M-$8B24.2x
SenseTime GroupChinaChinaPublicly listed$748M($70M)$6.2B5.8x
Presight AIUAEUAEPublicly listed$825M$214M$5.7B5.4x
UBtech RoboticsChinaChinaPublicly listed$298M($108M)$5.1B9.5x
InfleqtionUnited StatesUnited StatesPublicly listed$29M($52M)$3.1B64.5x
Generalist AIUnited StatesSan Francisco, CAPrivate--$3B-

PrecisionHawk Public Comps

PrecisionHawk is still privately-owned, but its public comps include Tesla, Palantir, ServiceNow, Stryker, Datadog, RELX, Strategy, Unitree Robotics, Verisk Analytics and Fair Isaac.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tesla$95B$10B15.0x13.8x140.8x97.4x
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x
Stryker$25B$6.3B4.7x4.5x18.8x15.6x
Datadog$3.4B($588K)23.6x19.4x(137813.0x)77.6x
RELX$13B$4.9B5.5x5.3x14.4x13.2x
Strategy$477M($5.4B)149.4x144.4x(13.1x)(12.3x)
Unitree Robotics$253M$55M118.8x-548.5x-

This data is available for Pro users. Sign up to see all PrecisionHawk competitors and their valuation data.

Start Free Trial

Common questions about PrecisionHawk

When was PrecisionHawk founded?PrecisionHawk was founded in 2010.
Where is PrecisionHawk headquartered?PrecisionHawk is headquartered in Raleigh, NC, United States.
Is PrecisionHawk publicly listed?No, PrecisionHawk is a private, VC-backed company.
How much funding has PrecisionHawk raised?PrecisionHawk has raised $136M across 5 funding rounds.
What was PrecisionHawk's last funding round?PrecisionHawk's last funding round was a $32M Series E in December 2019, led by Millennium Technology Value Partners.
Who are PrecisionHawk's investors?PrecisionHawk's investors include Millennium Technology Value Partners, IU Ventures, Intel Capital, Bob Young, Verizon Ventures, Eastward Capital Partners, Third Point Ventures, Syngenta Ventures, Comcast Ventures, Yamaha Motor Ventures and 7 others.
Which companies are comparable to PrecisionHawk?Companies comparable to PrecisionHawk include Quantum Systems, SenseTime Group, Presight AI, UBtech Robotics, Infleqtion and Generalist AI.
How many companies has PrecisionHawk acquired?PrecisionHawk has acquired 5 companies, including Uplift Data Partners, InspecTools, Hazon Solutions, LLC, Droners.io and AirVid.

See companies similar to PrecisionHawk

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial