AI Platform Urbint Raises $60M to Protect Critical Energy and Telecom Infrastructure

The investment will enable Urbint to scale to help infrastructure companies meet growing global challenges from climate risk, aging infrastructure, and increased construction activity.

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Urbint

Aug 24, 2021, 08:00 ET

NEW YORK, Aug. 24, 2021 /PRNewswire/ -- Urbint, the leading AI platform for predicting and stopping threats to critical infrastructure and workers, announced a $60 million Series C investment round led by Energize Ventures, with participation from American Electric Power, OGCI Climate Investments, and existing investors Energy Impact Partners, National Grid Partners, Blue Bear Capital, and Salesforce Ventures. Critical infrastructure companies use Urbint to stop failures, damages, and worker injuries before they happen. With the US passing historic infrastructure spending, this funding round will enable Urbint to scale its technology and introduce new solutions to meet rising demand for the company's incident prevention software.

With Congress expected to pass a $1 trillion infrastructure bill – the largest in a century – the coming years will bring unprecedented work to overhaul America's infrastructure and increase its resilience to extreme weather and other threats.

"America's infrastructure is at an inflection point. As we've seen time and again, mounting threats from climate change to an aging grid have made the risk of major safety incidents unmanageable," said Corey Capasso, Founder and CEO of Urbint. "Our technology equips the nation's energy and infrastructure companies with AI to prevent everything from fires, outages, and explosions to tragic worker accidents. This new investment will fuel our expansion to meet this unprecedented moment."

"Today's critical infrastructure owners and operators are facing new challenges as aging assets and climate change threats create a more complex operating environment," said Tyler Lancaster, Principal at Energize Ventures. "Electric utilities in the U.S. alone spend more than $15 billion annually on operations and maintenance. Urbint's next-generation risk management software helps customers identify and prioritize safety and reliability threats, in turn lowering O&M costs, reducing emissions, and improving worker safety - all while ensuring critical infrastructure stays online."

"By protecting critical infrastructure, Urbint's technology prevented methane emissions equivalent to over 60,000 metric tons of carbon dioxide in 2020 alone," said Pratima Rangarajan, OGCI Climate Investments CEO. "We look forward to accelerating Urbint's climate impact by supporting their growth into new markets around the world."

Urbint pinpoints risks before catastrophe strikes, and its software powers preventative action across core programs such as construction, maintenance, and field operations. Urbint's customers include National Grid, Southern Company, and many other top energy and infrastructure companies.

This investment brings Urbint's total funding to $109 million.

About Urbint
Urbint predicts threats to workers and critical infrastructure to stop incidents before they happen. Leveraging real-world data and artificial intelligence, Urbint's software delivers a clear picture of risk up to a week in advance, and enables decision makers to take action in the right place, at the right time, before an incident occurs. Many of the largest energy and infrastructure companies in North America trust Urbint to protect their workers, assets, and the communities they serve. Learn more at urbint.com.

About Energize Ventures
Energize Ventures is a leading global alternative investment manager focused on accelerating digital transformation in energy and sustainable industry. Founded in 2016, Energize has funded 16 companies to-date and is backed by strategic and institutional LPs including CDPQ, Invenergy, Schneider Electric, General Electric, Caterpillar, and more. With an unmatched depth and breadth of industry and operational expertise, Energize works in partnership with its portfolio companies to realize their full potential from early commercialization to growth scaling and into the public markets. For more information on Energize Ventures, please visit www.energize.vc .

About OGCI Climate Investments
OGCI Climate Investments is a US$1B+ fund that invests in technologies and projects that accelerate decarbonization in oil and gas, industry, and commercial transport. We look for outcomes that reduce methane and carbon dioxide emissions and store or recycle carbon dioxide.

SOURCE Urbint