- Insight Partners and ITI Venture Capital Partners led the round with participation Viola Ventures, F2 Venture Capital, others
- New capital will be used to create a map of the U.S. subsurface infrastructure
- 4M also plans to build out its team
Austin and Tel Aviv-based 4M Analytics, a subsurface infrastructure mapping company, has secured a $30 million Series A extension. The new capital brings 4M’s total Series A round to $45 million.
Insight Partners and ITI Venture Capital Partners led the round with participation from other backers that included Viola Ventures and F2 Venture Capital.
The new capital infusion will be used to create a map of the U.S. subsurface infrastructure and grow the company’s team.
4M is building a database of underground infrastructure to help construction companies. “There’s an entire system of power grids, oil and gas pipelines, and fiber optic cables underground, co-founder and CEO Itzik Malka told technology news site CTech in a June interview.
“The opportunity to support a company that brings about valuable and much needed innovation to the construction industry was a huge draw for our investment team,” said Nikitas Koutoupes, a managing director of Insight Partners, in a statement. “The team at 4M has proven their subsurface infrastructure remote mapping capabilities across the world, and now, through their soon-to-be-launched platform, they will become the single source of truth for horizontal infrastructure construction.”