Baltimore AI software startup EcoMap Technologies reports a $6.9M raise 

A Baltimore software firm building platforms to help startups and economic leaders navigate regional resources wrapped 2024 with its largest reported raise to date.

EcoMap Technologies raised $6.9 million, per a filing with the Securities and Exchange Commission at the beginning of December. The startup’s AI-powered software is used across the country, including in its hometown of Baltimore. It’s meant to connect users to funding opportunities, accelerators, news and local businesses. 

EcoMap leaders did not respond to a request for comment about the raise. 

This raise follows a $3.5 million seed in 2022, an equivalent investment in 2023 and a flurry of hiring in 2024. In September, the startup tapped a new head of growth, chief marketing officer and chief financial officer, before hiring a vice president of customer experience in November. 

EcoMap’s recent raise is one of the highest in the Baltimore region in 2024’s fourth quarter, per the latest Venture Monitor report that PitchBook and the National Venture Capital Association released on Tuesday. It was fifth highest VC deal of the quarter, falling behind later stage healthcare companies like Gliknik, Sonavex and Secretome Therapeutics. 

Venture capital sped up in Baltimore in the last few months of 2024, though there wasn’t a spike in the number of deals, per the report. Companies saw $158 million across 13 deals, compared to the $69.2 million across 10 deals in the third quarter. 

A list of regional VC deals that the Baltimore Business Journal compiled lists Grotech Ventures, an Owings Mills-based funder focused on B2B startups outside Silicon Valley, as an investor in this round. Grotech previously participated in EcoMap’s seed raise. 

A 2022 RealLIST Startups honoree, the startup also hosted its inaugural SuperConnect conference in 2024. The two-day summit focused on local economic development, and became a tribute to the company’s late cofounder Pava LaPere.   

EcoMap graduated from and participated in several prominent accelerator and startup support programs, including the Techstars Equitech Accelerator and Baltimore Homecoming’s Crab Tank. The company previously boasted investors including Baltimore’s Conscious Venture Partners and TCP Venture Capital.