Urbint secured $20 million in Series B Funding round led by Energy Impact Partners


Urbint, a New York-based provider of an AI-powered field risk management system, has now secured $20 million in a Series B funding round.

Urbint is founded by the Corey Capasso. The company offers an Artificial Intelligence-powered field risk management platform that prevents and predicts threats to critical infrastructure and the workers to maintain it.

Urbint pinpoints risks in servicing, protection, construction, and replacement of infrastructure. Its client’s base includes Exelon, Con Edison, NiSource, Dominion, Xcel, National Grid, and Southern Company, among others.

Executive Opinion

Corey Capasso, Founder, and CEO of Urbint, said, "A few years ago, we saw that utilities were facing an overwhelming number of threats in the field, stemming from aging infrastructure, extreme weather, and workforce turnover, and didn’t have adequate tools to make informed risk-driven safety decisions. We built Urbint to arm them with predictive AI to stay one step ahead. The pandemic has only intensified this need as dangers to infrastructure and essential workers increase, and resources are strained. This investment will grow our reach to keep even more communities safe."

Hans Kobler, CEO of Energy Impact Partners, said, "When we first invested in Urbint two years ago, we felt they were poised to take the sector forward by bringing 21st century AI solutions to 20th and in some cases 19th-century infrastructure. Corey and the team have more than delivered on that promise, and now more than 40 utilities rely on Urbint to reduce operational risk."

Urbint's Latest Funding

The Energy Impact Partners and Piva led the latest funding round. Other participating investors include National Grid Partners and Salesforce Ventures.

The company, as of now, has plans to use the new funding to scale and expand its field risk management platform into new industries and countries. It will keep on bringing quantifiable improvements in infrastructure and worker safety as well as to reduce emissions to communities across the globe, notes the announcement.
PC: Pablo, Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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