Allegion Ventures Co-Leads Funding Round for AI-Enabled Mapped
Mapped helps customers securely access real-time data from legacy systems, devices, Cloud sources and applications.
CARMEL, Ind. — Allegion Ventures, the corporate venture fund and a subsidiary of Allegion, has made an undisclosed investment in Mapped, an AI-enabled data infrastructure platform for commercial and industrial IoT.
Allegion Ventures was a co-lead investor in Mapped’s seed II funding round alongside MetaProp.
Mapped helps customers securely access real-time data from legacy systems, devices, Cloud sources and applications within commercial and industrial buildings. The platform does this by automating data discovery and normalization, making it easier to deliver insights, according to an announcement.
The software maker’s API is said to provide digitization teams, app developers, data scientists, systems engineers and subject matter experts with a live “map” of what they need to know about the people, places and things within spaces.
Allegion Ventures President Rob Martens says this technology is addressing a critical need for building managers and property owners, who desire less complexity and more standardized data to make informed decisions across their portfolios. Solving this problem fits the Allegion Ventures investment thesis, he adds.
“The software and tools Mapped is offering have an exciting opportunity to be adapted and scaled by a wide audience that wants real-time device visibility and data insights — and they also align to the Allegion Ventures focus of enabling technology to reduce friction and make buildings smarter and more secure,” Martens says.
Mapped Founder and CEO Shaun Cooley notes that the funding will be used to build-out go-to-market teams, strengthen core technology and meet increasing customer demand.
“Our customers see Mapped as filling a highly-anticipated need, especially as the public settles into a new post-pandemic normal of better understanding things like how many people are in one place at one time, if a space is secure or whether or not the air conditioning unit is providing the right amount of air flow,” Cooley says.
He adds, “We take IoT data for the built world and translate it, ultimately making it more convenient to use for commercial and industrial decision makers and their teams, who are tasked with meeting increasingly competitive market demands.”
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