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Salesforce Ventures and National Grid Partners also participated in the round, which brought the New York-based company’s total raised amount to $35 million, including a $15 million Series A round in January 2017, Corey Capasso, founder and CEO of Urbint, told Crunchbase News.
Founded in 2015, the company’s technology analyzes different data points, such as utility data, repair records, weather and soil conditions, to predict and prevent threats to energy infrastructure and worker safety in the field, giving recommendations so companies can make better decisions to reduce risk, he said.
“We build models using artificial intelligence to predict risks associated with a certain task,” Capasso said. “For example, if there is active construction going on, we would consider that high-risk and would make recommendations, such as sending another worker to help or going to inspect the property.”
Urbint will use the new funding to scale its Field Risk Management platform and expand into new verticals and internationally, Capasso said.
For now, the company is hiring, with plans to be over 100 people by the end of the year. Growth will be across the board, but Urbint is doubling down on research and development, Capasso said.
In 2019, the company grew 10,000 percent, which Capasso said speaks to the types of problems Urbint is solving. Even during the COVID-19 pandemic, the company was working to keep critical facilities open, as well as gas, electricity and water were available in homes.
“Field management hasn’t really existed before, so we are heavily investing in the technology,” he added. “Our vision is a world with zero safety instances.”
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