Lacuna Technologies, a Palo Alto, Calif.-based technology company that builds and manages open-sourced digital tools for cities and municipal agencies to create, communicate, and enforce dynamic transportation policies, raised $16m in Series A funding.
The round, which brought total investment in Lacuna to $33.5m, was led by Xplorer Capital Management with participation from founding investor Playground Global. As a result of this investment, Keith Nilsson, Managing Partner and Co-founder of Xplorer Capital Management, will join Lacuna’s Board of Directors.
The company will use the funds to expand its product offerings and scale its business to new markets.
Founded in 2018 by Hugh Martin, Chairman and CEO, Lacuna Technologies builds and manages open-sourced digital tools that allow cities and municipalities to create, communicate, and enforce dynamic transportation policies. The company’s solutions, built on open-source technology, give cities a full picture of how their roads and airways are changing so that they can create evidence-based policies to address congestion, pollution, access and safety issues, and more. Lacuna, and its wholly owned subsidiary Ellis & Associates, work with some of the largest metropolitan areas in the country including the City of Los Angeles, City of Seattle, and Miami-Dade County.