February 26, 2015

Citymaps Announces $6M in New Funding From Coatue Management & Nokia Growth Partners to Support Global Expansion of Its Social Mapping Platform

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NEW YORK, NY–(Marketwired – Feb 26, 2015) Citymaps announces today a major new update to its proprietary social mapping platform, along with an additional $6M in new equity financing from Nokia Growth Partners, Coatue Management, Acadia Woods LLC, and existing investors. Paul Asel, Managing Partner at Nokia Growth Partners, will join the Citymaps board of directors. The updated Citymaps app, which launches today for the first time on Android, is available for free in the App Store and Google Play Store.

Citymaps enables users to create collections of places, or personal maps, with easily searchable themes. The app update also introduces “collaborative maps,” which enables groups of people to create collections together. The powerful mapmaking tools use personalization algorithms that intelligently surface new places based on a user’s expressed interests, community inputs, and recommendations from friends and trusted sources.

“Citymaps fits well into a mobile-first world delivering contextual maps that are personalized, customizable and social,” said Paul Asel, Managing Partner at Nokia Growth Partners. “Personal, collaborative maps offer new ways to present and preserve information in a visually compelling map platform. Citymaps’ strong team and technology position the company well as a leader in social mapping.”

Citymaps is now available globally with over 80 million searchable Points of Interest across 750 different categories of places. People from over 100 countries have used Citymaps to create personal or collaborative maps. Citymaps also publishes over 100,000 targeted deals daily based on preferences expressed through your personal maps.

“Citymaps 2.0 is our most significant update and provides users with a ‘one stop shop’ to create and discover social maps,” says Founder & CEO Elliot Cohen. “One out of every two people keep lists of places they want to remember — Citymaps makes it easier than ever to do this, and lets users take the information with them on-the-go.”

Citymaps was built by a small team with a big idea: to create a mapping platform that is personalized, customizable and social. Based in New York City, Citymaps was founded on the belief that maps could be more. More fun. More personal. More inspiring. Citymaps is a visually rich map that helps you discover and collect all your favorite places. Never forget a place again, anywhere in the world. Use Citymaps to make collections, follow your friends, and get great recommendations.

NGP is an independent fund sponsored solely by Nokia investing in companies that are changing the face of mobility and connectivity. NGP offers industry expertise, capital and an extensive network, enabling entrepreneurs to build disruptive, industry-changing companies and take them to the global market. With offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere. Visit www.nokiagrowthpartners.com for more information.


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