SILICON VALLEY, Calif., March 04, 2019 (GLOBE NEWSWIRE) -- Jupiter (www.jupiterintel.com), the leading provider of predictive data and analytics for climate risk, today announced an oversubscribed $23M Series B Financing led by Energize Ventures and including Mitsui MS&AD, QBE, Nephila, SYSTEMIQ, and leadership from top private equity funds.
Previous investors Data Collective (DCVC) and Ignition Partners also participated in the funding. The proceeds will be used to accelerate Jupiter’s aggressive expansion into new perils, geographies and resiliency services.
“These investments from leaders in the energy, infrastructure, insurance, financial services and consulting industries underscore the urgent need to regularly quantify and assess climate-related physical risk using forward-looking analytics,” said Rich Sorkin, CEO and Co-Founder of Jupiter. “Influential investors from the U.S, EU, Asia and Australia highlight the global nature of Jupiter’s business and the rapidly growing demand for Jupiter’s broad portfolio of high-resolution, AI-enabled climate risk applications. Jupiter’s elastic exascale computing provides unlimited capacity, enabling hyper-local risk analyses for the entire planet.”
Investors representing diverse industries offered public support for Jupiter’s pioneering work in climate-related risk analytics.
“Driven by the growth of extreme weather events, our critical infrastructure partners are now proactively seeking highly tailored and actionable resiliency management technology solutions. Our market research yielded corporate customer, government and financial institution endorsements for Jupiter’s scientifically advanced, AI-enabled, high resolution asset-level predictions. We are confident that Jupiter is already becoming the global standard for predicting the risk to both the infrastructure sector and the broader economy,” said John Tough, Investing Partner at Energize Ventures.
SYSTEMIQ, co-founded by McKinsey veteran Jeremy Oppenheim, also invested in Jupiter’s Series B. Oppenheim, who created McKinsey’s Sustainability and Resource Practice and is widely viewed as one of the most influential thought leaders in climate change, said, “For a decade the planet has needed the kind of repeatable, globally consistent, insurance grade analytics Jupiter now delivers. The progress this world class team has made in under two years is breathtaking and we look forward to helping them further accelerate their global success.”
Jupiter is the global leader in data and analytics services to better predict and manage risks from extreme weather, sea-level rise, storm intensification and rising temperatures caused by medium- to long-term climate change. Jupiter’s ClimateScore™ Intelligence Platform provides sophisticated, dynamic, hyper-local, current-hour-to-50-plus-year probabilistic risk analysis for weather in a changing climate. The company’s FloodScore™ and HeatScore™ services are already used for managing climate-related risk assessment and management for New York City, South Florida, Houston and Europe with global expansion underway. Jupiter’s models are based on the latest science, as developed by the global Earth and Ocean Systems science community.
Jupiter offers commercial services to asset owners in critical infrastructure, energy and real estate, financial services including insurance and banking, and the public sector. These customers use Jupiter services for a broad range of applications including capital planning, risk management, site selection, design requirements, supply chain management, investment valuations and shareholder disclosures.
Hugh S. Moore for Jupiter