A global leading provider of artificial intelligence (AI) platform for predicting and stopping threats to critical infrastructure and workers, Urbint, announced that they have secured a $60 million Series C investment round led by Energize Ventures, along with participating investors such as American Electric Power, OGCI Climate Investments. There were other previous investors including Energy Impact Partners, National Grid Partners, Blue Bear Capital, and Salesforce Ventures.
Corey Capasso, Founder, and CEO of Urbint Said, “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. 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.”
Urbint helps critical infrastructure businesses prevent failures, damage, and worker injuries. Urbint will be able to scale its technology and introduce new solutions as the US infrastructure spending reaches historic levels, helping the company meet the demand for its incident prevention software.
Tyler Lancaster, Principal at Energize Ventures, said, “Today’s critical infrastructure owners and operators are facing new challenges as aging assets and climate change threats create a more complex operating environment. 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.”
It is expected that Congress will pass a $1 trillion infrastructure bill – the largest in a century – in the next few years, this will ensure that America’s infrastructure is overhauled and is more resilient to extreme weather and threats. A feature of Urbint’s software is its capability to identify risks before they happen, and it uses this knowledge to act upon them in core programs such as construction, maintenance, and field operations.