Baltimore, Md (June 7, 2022) – EcoMap Technologies, a Baltimore-based start-up that creates platforms that help people navigate ecosystems, is excited to announce that it has closed a $3.5M seed round led by Las Olas Venture Capital.
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CONTACT: Kristi Halford | firstname.lastname@example.org | 443-392-2505
EcoMaps are data-driven platforms that centralize information about the organizations, resources, people, and activity within any given ecosystem into a one-stop online hub. EcoMap platforms make it possible to easily navigate any ecosystem, including local business communities, entire industries, and even corporate networks.
“Although ecosystems exist everywhere, the tools on the market today lack the functionality and flexibility to encompass the complexity of ecosystem management. EcoMap fills this gap. Their technology transforms traditionally static, inaccessible, and fragmented data points into a singular platform that encompasses the entire breadth of ecosystem activities, automatically updates with new data, and enables organizations to implement the features they want,” shared Las Olas Venture Capital Partner Nate Vasel, who led the deal and is joining the board as part of this round.
He adds, “Pava and Sherrod deeply understand the customer problem in ecosystem building, and even at this stage EcoMap has seen incredible customer love for the product. We at LOVC are thrilled to be working with them.”
EcoMaps centralize information about the organizations, resources, and other assets within a community into a continually-updated platform, so that anyone can easily navigate what is going on, find the resources they need, and connect with new partners.
According to EcoMap Technologies CEO Pava LaPere, “Ecosystems make up the core of our personal and professional life. Unfortunately, these ecosystems are largely invisible, inaccessible, and inefficient, because data about what is going on in the ecosystem is decentralized and ever-changing. At EcoMap, we use technology to make easy for anyone to navigate any ecosystem, anywhere.”
Investors in the seed round include Janus Venture Partners, GroTech Ventures, Conscious Venture Partners, TCP Venture Capital, TechStars and other local partners.
“While we were able to secure investments from an impressive group of funders, we are particularly proud of the number of investors from our hometown of Baltimore. We are passionately committed to making an impact on the city, and we are proud to be part of its growing tech ecosystem. This funding will allow us to focus on growth and increasing our market share – we want to develop EcoMaps for ecosystems in a wide range of industries and communities,” states LaPere.
EcoMap has created maps for more than a dozen ecosystems including tech ecosystems in Baltimore, Virginia and Long Beach City; Venture for America’s ecosystem of alumni in 13 states; as well as business ecosystems in Dallas, Charlottesville, VA, Columbus, OH, and Upstate, SC.
Maps have been created for diverse ecosystems including the Native American business ecosystem; Ghana’s entrepreneurial ecosystem; and the Baltimore black-owned business ecosystem.
“We needed an online hub that would help our organization share information and connect stakeholders across more than thirteen cities. The EcoMap team not only understood the breadth of our ecosystem, but also suggested solutions, and advanced our build from ideation to implementation effortlessly," stated Eric Somerville, Chief Executive Officer at Venture for America.
A majority of the funding will be used for hiring key roles in marketing, sales, and product development.
LaPere founded EcoMap Technologies when she was a 21-year old college student attending Johns Hopkins University, with her co-founder Sherrod Davis. EcoMap Technologies is a graduate of the TechStars Equitech Accelerator. The female- and black-founded company has a diverse team with a 50/50 goal – currently, half of its employees are female and 30% are people of color.