Descartes Labs acquires Geosite

Descartes Labs, a provider of geospatial analytics and artificial intelligence solutions, has acquired all of the operating assets of Geosite, a startup offering an API for geospatial data.

Founded in 2018, Geosite publicly disclosed $6.8 million in funding and two notable investors include MS&AD Ventures and QBE Ventures.

Rachel Olney, CEO of Geosite, will be leading the insurance technology business within Descartes Labs.

“This acquisition aligns perfectly with our growth strategy and opens up exciting opportunities in the insurance sector. Geosite’s innovative geospatial software complements Descartes Labs’ capabilities, allowing us to provide even more valuable insights to our customers across various industries.” – Richard Davis, CEO at Descartes Labs.

“We are thrilled to join forces with Descartes Labs. This strategic move will enable us to accelerate our mission of providing innovative geospatial solutions to a broader audience. We look forward to contributing our expertise and technology to Descartes Labs’ continued success and are excited to bring Descartes Labs technology to our customers in insurance.” – Rachel Olney, CEO of Geosite.