Urjanet, a Georgia Institute of Technology spinout, has obtained $20m in series C funding led by Oak HC/FT.
Urjanet, a utility data provider that is based on research conducted at Georgia Institute of Technology, received $20m in a series C round yesterday led by venture growth equity fund Oak HC/FT.
Founded in 2011 at Advanced Technology Development Center, the incubator of Georgia Institute of Technology, Urjanet operates a data-as-a-service platform that collects data from some 4,000 electric, gas, telecoms, water and waste providers across 30 countries.
The platform enables companies to automate accounting and bill processing, manage their energy costs, comply with regulations and monitor sustainability.
The money will allow Urjanet to further expand its network of utilities internationally and to launch a new service aimed at the financial services sector that will enable firms to undertake alternative credit scoring and verify identities.
Patricia Kemp, general partner at Oak HC/FT, will join the board of Urjanet.
The spinout previously raised a total of $11m from investors including Grotech Ventures, Correlation Ventures, Imlay Investments and Georgia Research Alliance.
