Urjanet of Atlanta, a company which provides energy data to help large scale energy consumers make decisions, has announced that it has secured $4m in “Series B” venture financing.
The money came from existing investors GRA Venture Fund, LLC and Imlay Investments Inc, and a new investor Grotech Ventures.
The company provides energy data by subscription, including about the clients’ electricity and natural gas billing, demand, consumption, history, tariffs and rate plans, weather data, interval metering and carbon intensity, taking the data from different places around the company.
Customers include large corporations and government agencies.
The Urjanet data is designed to integrate with the customer’s existing software, accounting systems, energy and carbon management infrastructure.
Its platform was developed together with Georgia Institute of Technology.
“Since our launch in 2010, the concept and complexity of measuring, managing and understanding data related to energy and resource use has become important for businesses as a way to manage cost and carbon emissions,” says Sanjoy Malik, CEO of Urjanet.
“Many companies, especially those with multiple locations across the country, are largely blind to their total energy use and costs because of the multitude of sources that provide that information in a huge variety of formats.”
“Urjanet [provides] a single intelligent source of reliable data for enterprise energy and resource management.”
“Urjanet is building a business at the confluence of energy and data. They are solving the pain enterprise customers face in acquiring accurate and timely energy data on which to make informed decisions,” said Steve Fredrick, general partner at Grotech Ventures.