Reprinted press release from 1871 startup CityScan

CityScan raises oversubscribed $1.2 million in seed financing

Serra Ventures and several top CEO’s back leading provider of street-level market intelligence CityScan

Chicago, Ill. (Nov 16, 2012)- CityScan announces that it has raised over $1.2 million in seed funding from an investor list that includes several CEOs and numerous venture capital and private equity firm partners. The new funding will allow the innovative startup to proceed with its development and nationwide expansion plans.

CityScan uses Mobile Terrestrial LiDAR technology to help municipalities observe the cityscape and proactively respond to changes that impact code enforcement and safety within their communities. The capital investment in this early stage Chicago company is validation of the company’s vision.

“Cities have a number of significant challenges and don’t have the personnel, technology or financial resources to solve them,” says investor Patrick Spain, former CEO and co-founder of the business research company Hoovers. “I believe CityScan brings the right technology and leadership to change that.”

CityScan uses massive image datasets and Mobile Terrestrial LiDAR technology to extract detailed street-level features including billboards, commercial signage, awnings, safety obstructions and road signs everywhere people drive, bike or walk. Regularly updated street level information can be matched against existing municipal records to help municipalities generate revenue and keep communities safe.

“Securing capital validates our business model and allows us to focus directly on implementing and expanding the business,” said David Guttman, CEO of CityScan. “We can provide a unique set of tools to help overworked and cash-strapped municipalities. The sheer volume of data a city has to deal with is nearly impossible to manage. CityScan is now poised to help cities by providing them with real, actionable insights into what is happening in their cities – allowing them to collect more revenue, properly and fairly enforce laws, and make their cities more safe and livable.”

About CityScan
CityScan is creating better ways for cities to make smarter decisions about street level features and environments, enabling them to increase revenue and improve safety. Through the use of images, Mobile Terrestrial LiDAR technology and other open datasets, CityScan empowers municipalities to accurately predict and proactively respond to changes that impact their communities. Established in 2011, CityScan is headquartered in Chicago.

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