// startup autopsy
PrecisionHawk
A $107M agri-drone pioneer that pivoted itself into oblivion.
marketfitFire Sale
Distressed acquisition below last-round valuation
| Founded | 2010 |
|---|---|
| Closed | 2022 |
| Country | USA |
| Sector | Agriculture |
| Founder | Ernest Earon, Robert Reimer |
// the model, blind
Evaluating only PrecisionHawk’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: No market fit.
Key Events Timeline
FOUNDING
Ernest Earon and Robert Reimer found PrecisionHawk in Raleigh, NC to commercialize agricultural drones.
FUNDING
Raises $18M Series C with GoPro and Intel Capital; reaches $75M total raised by year-end.
PIVOT
Pivots from agriculture to insurance inspection analytics; acquires DataMapper and integrates with insurance carriers.
SHUTDOWN
Remaining operations wound down after EY asset sale; independent entity ceases to exist after 12 years.