Nearmap more than tripled revenues since 2015; The MWCN Utah 100 ranks the fastest growing companies in Utah by percentage and dollar growth
Leading aerial imagery company Nearmap announced today that it has been named the 55th fastest growing company in Utah by the MountainWest Capital Network (MWCN) in its annual Utah 100.
Since 2015, Nearmap has more than tripled its revenue in the United States. The MWCN’s Utah 100 awards recognize Utah’s 100 fastest growing companies, the 15 largest revenue companies, and a select list of newer, Emerging Elite Companies. The Utah 100 Companies are ranked according to a weighted average calculation of percentage and dollar growth.
‘‘We’re honored to be recognized as one of the fastest growing companies in Utah and attribute our success to the incredible team we’ve assembled and their commitment to our ongoing growth,’’ said Dr. Rob Newman, Nearmap CEO. “We picked Utah as our U.S. headquarters due it’s talented workforce and history for innovation. The business environment here has helped contribute to our ability to be a source of truth for companies and individuals that they can depend on to provide certainty through the up-to-date aerial imagery we provide.”
Contributing to Nearmap’s success in 2020 are the launch of Nearmap Artificial Intelligence (AI) and the acquisition of Pushpin’s technology and assets. Nearmap AI is a series of datasets constructed from machine learning models deployed across Nearmap high-definition aerial images. Nearmap AI allows users to automatically identify ground features, track changes and verify insights against current aerial imagery at massive scale. Nearmap AI is already being used by a number of businesses and government organizations to make it easier to access and use AI-driven location intelligence to plan, manage and run their operations.
The Pushpin acquisition enables Nearmap to extract and disseminate data from 3D models to provide geometry to measure roofs, install solar panels and help government agencies. With this new technology, Nearmap is able to provide roof geometry at significantly reduced turnaround times, fast-track job estimation, determine solar irradiance, plan drone delivery and routes and model 5G propagation.
“Despite the many challenges associated with COVID-19, 2020 has been a banner year for Nearmap,” continued Newman. “We’ve continued to innovate and provide ways for our clients in a variety of industries to be successful and continue business as usual even with stringent shelter in place and work from home orders still in effect in many areas. We’re committed to finding new ways to serve our clients and providing them with outstanding experiences regardless of the global pandemic.”