Louisiana based drone services provider FlyGuys has scored a $10 million Series A funding round to scale their SaaS solutions platform and expand their nationwide presence.
It’s a positive indicator for the US drone industry. Founded in 2014, early player FlyGuys has a nationwide presence, serving enterprise clients in a wide range of industries including agriculture, tower companies, power, mining, and construction. Services include LiDAR, inspection, mapping, and more.
FlyGuys says they will use the funding round to increase capacity and strengthen their market reach.
“The round was led by prominent investors who have recognized FlyGuys’ commitment to using software as a service to connect data-seekers with data providers. Among the financiers, Mitchell Capital and Advantage Capital, who have made previous investments toward the growth of FlyGuys, have returned to fortify the company’s vision further,” says a company release.
“When we first invested in FlyGuys in 2021, we were intrigued by the innovative nature of the company and its early growth in a fast-growing industry,” said J.P. Lynch, Vice President, Advantage Capital. “Today, we are eager to see what is next for the company and confident it will continue to make strides as a leading reality data capture company while also creating quality jobs in the local community.”
Paul Tyree, CEO of Mitchell Capital, shared his perspective on the investment: “Our enthusiasm for backing FlyGuys is grounded in our faith in the expertise and vision of their management team. They are constructing an innovative, technology-driven business that consistently delivers exceptional value to their clients.”
Under the leadership of Joe Stough, CEO of FlyGuys, the company has undergone a remarkable transformation over the past year. Stough stated, “Since I stepped in from the Board Chairman role a year ago, we’ve been reshaping FlyGuys’ business model to fulfill the need for a nationally scaled online marketplace for reality data capture. We are channeling this new capital infusion towards the creation of a highly scalable, cloud-based platform designed to connect the demand across various vertical markets, such as construction, agriculture, green energy, telecommunications, insurance, and more, with our extensive network of local data capture providers, predominantly comprised of drone pilots, spanning every state in the nation. I’m excited to work with this talented and motivated team to bring another tech startup to Louisiana and make an impact by creating jobs locally everywhere in the nation.”
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.For drone industry consulting or writing, Email Miriam.
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