A major contributor to this article appears to have a close connection with its subject. (April 2025) |
Nearmap (officially Nearmap Pty Ltd) is an aerial technology company headquartered in Australia providing data and insights to various industries, including insurance companies, governments and other businesses. Insights come from proprietary artificial intelligence deriving data from frequently-updated, high-resolution aerial imagery. This location intelligence covers up to 95% of Australia's population, 87% of the United States population, 75% of the New Zealand population, and 66% of Canada's population. It was a publicly traded company on the Australian Securities Exchange until being taken private by Thoma Bravo in 2022.[2]
 | |
 Screenshot of Nearmap's web portal showing Sydney, Australia. | |
| Type of business | Private |
|---|---|
| Founded | 2008 in Perth, Australia |
| Headquarters | Sydney, Australia |
| Owner | Thoma Bravo |
| Key people | Andy Watt (CEO) |
| Industry | Aerial Technology |
| Products |
|
| Revenue | A$146.0 million (2022)[1] |
| URL | www |
History
editNearmap was founded in Perth, Western Australia, by Stuart Nixon in 2008. Nearmap's first capture of aerial imagery dates back to 2007.[3]
In 2012, the business was acquired by an ASX-listed company Ipernica and became the primary entity. Nearmap then moved its headquarters from Perth to Sydney.[4] In 2014, the company expanded into the United States market.[5] In 2017, Nearmap expanded its capture program and surveyed New Zealand's top 13 most populated cities, including Queenstown.[6][7] The same year, Nearmap expanded its aerial imaging content to provide 3D models of Australia's major capital cities.[4]
In May 2021, EagleView Technologies and Pictometry International accused Nearmap of infringing their patents covering roof estimation technology.[8] Nearmap and EagleView settled the court case in May 2026.[9]
In August 2022, private equity firm Thoma Bravo agreed to buy Nearmap for A$1.06 billion (US$730 million).[10]
Business
editConcept
editHistorically, aerial imagery was available mainly to government and large enterprises, as it was quite an expensive and long process. First, a surveying company had to be engaged to take photos of a certain area of interest. Then, the data would be manually processed and stitched together digitally to create aerial maps. Imagery was then delivered on a hard disk. The entire process could take months and was repeated once every few years at best.[11]
Nearmap disrupted this model by creating a patented camera system and software pipeline that enables the company to capture aerial photos, stitch them together into seamless digital maps, and publish the content online within days of capture.[12] By capturing images with airplanes (as opposed to with satellites), Nearmap is impacted less by weather and atmospheric obstructions.[13]
With the cost of capture significantly lower than anything else on the market, Nearmap can update surveys more frequently and at a much lower cost. Its subscription model has made high-quality aerial imagery more accessible for businesses and government organizations.[5] Nearmap captures aerial images frequently, up to six times a year in urban centres, at a resolution of 5.8–7.5 cm per pixel or better.[11]
Nearmap serves over 11,200 businesses and organisations globally.[14]
Product
editNearmap provides many types of content including Vertical, Panorama, Measurable Obliques, 3D, Artificial Intelligence and Roof Geometry.
Vertical imagery is also known as orthorectified, providing a top-down view of the ground captured at a 90° angle. Orthorectification is a process used to correct the terrain distortion in aerial or satellite images that results from variations in the surface of the Earth and tilt of the satellite or aerial sensor being used to collect the data. This process allows accurate information to be gathered from the images such as distances, angles, and positions.[13]
The Nearmap Panorama product provides a mosaic view of locations and features from all four cardinal directions in a single view. Nearmap Panorama allows users to pan and zoom across a large footprint uninterrupted, allowing information to be reviewed quickly.[13]
Nearmap's Measurable Obliques allow users to make accurate height measurements of buildings and other ground features. Users can then export these images with the measurements and annotations included, allowing multiple stakeholders to communicate with accurate detail to an entire project team.[13]
Nearmap aerial imagery is delivered through a cloud-based interface called MapBrowser or through API integrations.[15] The MapBrowser web application allows users to navigate and search Nearmap's library of current and historical content, and includes tools for measuring and analyzing locations.[13] Nearmap's APIs offer integration with ArcGIS, Autodesk, CAMA systems, and other leading GIS and CAD applications via standard industry protocols including WMS, WMTS, and TMS.[15] Along with current imagery, Nearmap's online archive offers a gallery of historical imagery dating back to 2008 for some parts of Australia.[5]
References
edit- ↑ "Nearmap Analyst Pack: FY22 Result" (PDF).
- ↑ "Thoma Bravo Completes Acquisition of Nearmap Ltd". Thoma Bravo. 15 December 2022.
- ↑ Redrup, Yolanda (21 August 2019). "Investors punish Nearmap for widening losses". Australian Financial Review. Retrieved 22 August 2019.
- 1 2 Redrup, Yolanda (8 April 2018). "Strengthening US market buoys Nearmap growth prospects". Australian Financial Review. Archived from the original on 24 January 2025. Retrieved 3 May 2018.
- 1 2 3 Wallace, Anthony (14 March 2017). "An aerial imagery success story: Nearmap". Spatial Source. Retrieved 3 May 2018.
- ↑ Sandberg, Phil (4 May 2017). "Aussie Aerial Imagery Company Launches in New Zealand News Operations". Content+Technology. Archived from the original on 27 June 2018. Retrieved 3 May 2018.
- ↑ "Nearmap launches NZ pilot capture program - 9Finance". Nine Finance. 2017. Archived from the original on 15 May 2022. Retrieved 3 May 2018.
- ↑ "Nearmap Made Aware of Complaint in U.S District Court" (PDF). ASX (Press release). 6 May 2021.
- ↑ "Nearmap and Eagleview Reach Settlement in Patent Dispute". PR Newswire (Press release). 28 May 2026. Archived from the original on 28 May 2026. Retrieved 28 May 2026.
- ↑ Fildes, Nic (22 August 2022). "Thoma Bravo agrees $730mn takeover of Australia mapping company". Financial Times. Retrieved 22 August 2022.
- 1 2 Gabel, Julia (28 August 2017). "Exclusive interview: Nearmap on competing with Google Maps". IT Brief. Retrieved 3 May 2018.
- ↑ King, Mike (22 May 2013). "Mapping out a promising stock". The Sydney Morning Herald. Retrieved 3 May 2018.
- 1 2 3 4 5 Heimgartner, Jeffrey (7 December 2017). "Service Provides Clear, Orthorectified and Current Images of Construction Site". Engineering.com. Archived from the original on 11 December 2017. Retrieved 3 May 2018.
- ↑ "Nearmap Analyst Pack: FY22 Result" (PDF). ASX.
- 1 2 "Nearmap Delivers New 3-D Content and Oblique Imagery, Transforming Location Content for the Mapping, Construction, Engineering and Government Industries". Businesswire (Press release). SnapConner PR. 10 July 2017. Archived from the original on 24 January 2025. Retrieved 3 May 2018.