Nearmap: Building a Global Property Intelligence Platform

Mar 12, 2026

Andy Watt, CEO of Nearmap — a leader who transformed aerial imagery into a global property intelligence platform. He discusses strategy, AI investments, scaling from $40M to $300M+, and international expansion. Short takes cover M&A and integrating data into insurance, construction and government workflows. The conversation touches on organizational shifts and building high‑talent AI teams.

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INSIGHT

Hardware Investment Secures Scarce Ground Truth

Nearmap owns bespoke camera hardware and outsources flight ops to capture high-frequency imagery.
Proprietary million-dollar cameras plus frequent refreshes create hard-to-replicate ground-truth datasets for downstream AI.

INSIGHT

Three Layer Stack Powers End-to-End Property Workflows

Three-layer offering: capture imagery, apply machine learning to extract attributes, and deliver workflows/software for action.
This stack lets customers use Nearmap for build, assess, and repair phases across property lifecycle.

ADVICE

Preserve Core Product While Restructuring For Scale

Preserve customer-facing innovation when scaling and avoid disrupting what customers love about the product.
Reorganize to reduce matrixed sprawl, align by geography and verticals, and borrow scaling practices from other software companies.

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In this episode of Thoma Bravo’s Behind the Deal, Senior Partner A.J. Rohde and Principal Peter Hernandez sit down with Nearmap CEO Andy Watt to unpack Thoma Bravo’s investment in Nearmap and the company’s evolution from an aerial imagery provider into a global property intelligence platform.

They discuss how the deal originated, what made Nearmap stand out, the complexities of taking an Australian public company private and how the business has expanded through AI, software and strategic acquisitions. Andy also shares his journey from Scotland to Australia, how Nearmap scaled from roughly $40 million in revenue to more than $300 million and why the company sees a long runway ahead across insurance, construction, government and beyond.

For more information on Thoma Bravo's Behind the Deal, visit https://www.thomabravo.com/behindthedeal

Learn more about Thoma Bravo: https://www.thomabravo.com/

Learn more about Nearmap: https://www.nearmap.com/

Disclaimer: This podcast is for informational purposes only and does not constitute an advertisement. Views expressed are those of the individuals and not necessarily the views of Thoma Bravo or its affiliates. Thoma Bravo funds generally hold interest in the companies discussed. This podcast should not be construed as an offer to solicit the purchase of any interest in any Thoma Bravo fund.

Certain statements about Thoma Bravo made by portfolio company executives are intended to illustrate Thoma Bravo's business relationship with such persons rather than Thoma Bravo's capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their podcast participation, although they generally received compensation and investment opportunities in connection with their portfolio company roles and in certain cases are also owners of portfolio company securities and or investors in Thoma Bravo funds. Such compensation and investments subject podcast participants to potential conflicts of interest. In addition, this podcast includes forward-looking statements. These statements are based on current expectations and assumptions and involve significant risks and uncertainties that could cause actual results to differ materially.