Orbital Insight’s oil tracking analytics. Photo: Orbital Insight.

Orbital Insight announced it has closed a $50 million Series C round led by existing investor Sequoia Capital, with participation from new investors Envision Ventures, Balyasny Asset Management, Geodesic Capital, ITOCHU Corporation and Intellectus Partners. Previous investors GV, Lux Capital, and CME Ventures participated in the Series C as well. This latest round brings the 4-year-old company’s total funding to $78.7 million.

According to Orbital Insight, as the commercial space sector booms, rapid improvements in the frequency and resolution of imagery are the company to commercialize new analytic and software tools that let clients follow socioeconomic trends that were previously too complex and subtle to unravel. With this new round of funding, Orbital Insight plans to expand its portfolio of analytic products and grow its global strategic partnerships and sales presence in key international markets.

Since launching in 2015, Orbital Insight has announced successful applications of its technology, including: finding more oil stored in China than was previously reported, a partnership with the World Bank to effectively gauge poverty from space, and analysis of retailer parking lot traffic patterns.