Field Risk Management Company Urbint Secures $20 Million

By Noah Long ● June 22, 2020
  • Urbint, a leader in artificial intelligence for Field Risk Management, announced it has raised $20 million in Series B funding

Urbint, a leader in artificial intelligence for Field Risk Management, announced it has raised $20 million in Series B funding co-led by Energy Impact Partners and Piva with participation from Salesforce Ventures and National Grid Partners.

What does Urbint do? Urbint’s technology predicts and prevents threats to energy infrastructure and worker safety in the field. And the company will use the new funding to scale its Field Risk Management platform and expand into new industries and countries thus bringing quantifiable improvements in worker and infrastructure safety as well as emissions reduction to communities around the world.

During the COVID-19 pandemic, utilities and infrastructure operators are using Urbint’s technology to target emergency work to keep communities safe while protecting workers from unnecessary virus exposure risk on low priority field work. And Urbint is also helping them identify threats that could cause high-consequence outages to essential facilities like hospitals and nursing homes.

Key Quotes:

“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.”

– Corey Capasso, Founder and CEO of Urbint

“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.”

– Hans Kobler, CEO of Energy Impact Partners

“Urbint’s technology is a necessity—it enables the world’s essential utilities to focus scarce resources on the highest-priority risks, with real world implications from worker safety to explosion prevention, greenhouse gas mitigation and more. Urbint’s combination of first-class enterprise AI, deep industry expertise and a strong leadership team has already led to impressive traction, with a growth opportunity to become the dominant solution for infrastructure risk in the utility market.”

– Bennett Cohen, Partner at Piva

“The Salesforce Ventures Impact Fund supports a new generation of startups that are focused on driving positive social and environmental change. We’re excited to support Urbint, who is using their technology to empower customers to reduce emissions and make communities safer and more resilient.”

– Suzanne DiBianca, Chief Impact Officer of Salesforce

“Not only are we an investor in Urbint, but National Grid also uses Urbint’s technology to predict and prevent safety incidents, keeping the community safe. AI safety technology is especially vital to reduce risk during this pandemic, and we’re proud to grow our investment in Urbint.”

– Lisa Lambert, Founder and President of National Grid Partners