Replica, an Overland Park, Kan.-based data platform to understand and manage urban ecosystems, raised $41m in Series B funding.
The round was led by Founders Fund with participation from previous investors Innovation Endeavors, Sidewalk Labs, Rise of the Rest Fund and Firebrand.
The company intends to use the funds to grow its customer base and build new solutions.
Led by Nick Bowden, CEO and Co-Founder, Replica provides professionals like urban planners and policymakers with a data platform to get access to insights about how people are living and moving throughout communities to consider the impacts, trade-offs and nuances of programs so they can make informed policy and spending decisions.
Replica’s core technology is rooted in large-scale simulations powered by artificial intelligence and machine learning that help public and private sector customers assess current needs, investigate and develop new solutions, and forecast future impacts. These simulations leverage the company’s proprietary synthetic populations and behavior models, which enable the company to produce high-fidelity “replicas” of transportation and economic patterns. This methodology makes it possible for customers to receive high-quality, high-fidelity outputs that leverage new data sources like mobile location data, without compromising individual privacy.
Replica plans to expand its suite of product solutions in 2021, including the addition of Scenario, an intuitive and accessible forecasting and scenario modeling tool.