- UrbanFootprint recently announced it raised $25 million in Series B funding. These are the details.
UrbanFootprint recently announced that it has raised a $25 million Series B funding round led by Citi (via its Citi Ventures and SPRINT groups) and Social Capital, an early investor in UrbanFootprint. 2150, A/O PropTech, Assured Guaranty, and Dcode Capital joined as new investors.
The previous investors Valo Ventures and Radicle Impact also participated in the round. And UrbanFootprint will deploy this new capital to accelerate the delivery of climate and community intelligence to the energy, government, finance, and real estate sectors.
UrbanFootprint essentially compiles, maps, and analyzes thousands of previously-siloed data points covering climate, land use, economic, and social conditions and connects them to a proprietary canvas of 160 million land parcels that cover nearly every inch of the US. And customers using UrbanFootprint’s sector-specific data products and mapping tools can hone in on any area in the country and quickly evaluate existing conditions across hundreds of community, social, and environmental metrics, measure and map risk and market opportunities, and prioritize where to deploy interventions and investments.
U.S. energy utilities use UrbanFootprint’s energy solutions to prioritize where to deploy new EV chargers and harden their grids against accelerating heatwave and fire risks. And government agencies use UrbanFootprint’s government solutions to target billions of dollars in food, housing, and disaster relief to vulnerable Americans. Top urban planning firms and real estate investors use UrbanFootprint to inform where to invest in new housing, transit systems, and commercial space. And major financial institutions and insurers, challenged with $145 billion in climate-related disasters in 2021, deploy UrbanFootprint’s ESG and finance solutions to understand where climate threats and economic stress will impact investment risk and returns.
KEY QUOTES:
“UrbanFootprint provides decision-makers across industries with the ground-level insights they need to quickly and accurately evaluate risk and prioritize resources where they are needed most. Today, UrbanFootprint is used by some of the nation’s largest energy utilities, financial institutions, government agencies, and urban planning firms to answer complex questions in minutes versus weeks or months.”
– Joe DiStefano, Co-Founder and CEO of UrbanFootprint
“Global business leaders have both an obligation to prioritize societal well-being and an opportunity to lead the way forward to a more equitable, and sustainable future. UrbanFootprint’s deep domain experience in urban planning, data science, and location analytics software enables all enterprises and governments to make smarter and faster decisions about where to optimally invest.”
– Jeff Meyers, Director and Principal Investor at Citi Ventures
“We chose UrbanFootprint to support our ESG strategy because of its granular and comprehensive data core and intuitive mapping software. UrbanFootprint’s tools help us evaluate climate risk and now form an important component of our overall risk credit analysis.”
– William Hogan, Senior Managing Director of Public Finance at Assured Guaranty
