The story
Founded by Erik Rauch in 1999.1
Financing
MetaCarta was founded in 1999 by John R. Frank while he was working on his Ph.D. in physics as a Hertz Fellow at the Massachusetts Institute of Technology. By early 2001, John and Erik Rauch had developed a prototype of the Geographic Text Search product and incorporated the company together with Doug Brenhouse. In July 2001, they received $500,000 from DARPA’s Next Generation Internet Program. In 2001 and 2002, angel investors, including Esther Dyson, Bob Frankston, David P. Reed and Pattie Maes invested.
In October 2002, CIA’s venture capital arm In-Q-Tel invested and Gilman Louie, CEO of In-Q-Tel, said "there is tremendous interest and value in this type of geospatial information service and MetaCarta is the first company in this space in which we have invested." In-Q-Tel invested a second time in 2004.
In December 2003, the company raised a $6.5M Series B from a syndicate led by Sevin Rosen. Sevin Rosen espoused an investment philosophy of frugality but required a controlling interest, and the decision to accept that investment has become the subject of a business school case study. Sevin Rosen’s cofounder Ben Rosen has historical ties to Esther Dyson, and had invested in Bob Frankston’s company VisiCorp in the late 1970s. The syndicate included the venture capital arm of Chevron Texaco. In 2005, the company raised a Series C of $10 million led by FA Tech. Between 2006 and 2009, one member of the Series B syndicate went into receivership and the syndicate’s lead investor Sevin Rosen had an internal schism that eventually led it to split up. This forced the Sevin Rosen leader for the MetaCarta deal to depart.
Oil & Gas
In 2007, the company launched a product for the energy sector in partnership with IHS, and Schlumberger acquired exclusive distribution rights in the petroleum industry. The company partnered with content providers like the Society of Petroleum Engineers to support upstream exploration use cases.
Acquisition
Nokia acquired MetaCarta on April 9, 2010, a few months after the company reported record revenue growth. Nokia kept MetaCarta's core engineering team to build the search engine behind its HERE.com location search offering, and spun-out the enterprise products division and MetaCarta brand to Qbase Holdings in July, 2010. In 2012, John Frank left the role of Chief Architect for Search at Nokia to found Diffeo. Don Zereski, the CEO of MetaCarta at the time of its acquisition by Nokia became VP of Search and Discovery at HERE and led acquisitions of other startups. Qbase re-launched MetaCarta as part of Synthos Technologies, now Finch, naming Erin-Michael Gill, CEO in September 2014.
From Wikipedia’s article on MetaCarta, shared under CC BY-SA 4.0.3