CloudMade maps out $12.3 million in Series B

Location data solutions provider CloudMade completed a Series B investment round totaling $12.3 million and led by new investor Greylock Partners, along with participation from existing investor Sunstone Capital. Led by chairman and CEO Juha Christensen, former head of Microsoft's mobile device division and a founder of Symbian, CloudMade's mapping platform targets customers like mobile operators and device manufacturers, with a developer community topping the 12,500 mark--the platform promises third parties the tools to efficiently build applications boasting customized map tiles, turn-by-turn navigation, in-app advertising, local search and related data relevant to a host of consumer activities. CloudMade generates revenue via location-based advertising, geo data and premium mapping services; apps developed using the firm's platform include Skobbler, OffMaps, Geocaching, Trails, Ride the City and Gay Cities.

CloudMade operates alongside OpenStreetMap , a worldwide wiki map with over a quarter of a million users worldwide (including 3,500 new users per week) making over 7,000 edits per hour. Earlier this year, CloudMade introduced It's Your Map, an initiative to stretch the bounds of the OSM community via user-friendly apps enabling anyone to become a map contributor. CloudMade said the new funding will finance enhancements to its mapping platform as well as help expand support for developers and businesses looking to build and monetize apps, products and services that incorporate maps and location solutions.

For more on the CloudMade funding:
- read this release

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