NEW YORK — Urbint, an AI platform for predicting and stopping threats to critical telecom and energy 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.
The new investment brings NY-based Urbint’s total funding to $109 million.
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.
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.”
