BERKELEY, Calif.--(BUSINESS WIRE)--UrbanFootprint, the world’s first Urban Intelligence platform, today 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. Previous investors Valo Ventures and Radicle Impact also participated in the round. UrbanFootprint will deploy this new capital to accelerate the delivery of climate and community intelligence to the energy, government, finance, and real estate sectors.
Public and private institutions across the globe are struggling to prioritize where to invest in the face of unprecedented climate threats and social challenges. UrbanFootprint’s data and software help some of the largest and most influential institutions target where to invest resources to reduce climate vulnerability and increase the resilience of critical infrastructure and communities.
UrbanFootprint 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 United States. 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.
“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,” said Joe DiStefano, Co-Founder and CEO of UrbanFootprint. “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.”
U.S. energy utilities, which spent $143 billion on infrastructure in 2021, use UrbanFootprint’s energy solutions to prioritize where to deploy new EV chargers and harden their grids against accelerating heat wave and fire risk. 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.
“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,” said Jeff Meyers, Director and Principal Investor at Citi Ventures. “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.”
“We chose UrbanFootprint to support our ESG strategy because of its granular and comprehensive data core and intuitive mapping software,” said William Hogan, Senior Managing Director of Public Finance at Assured Guaranty. “UrbanFootprint’s tools help us evaluate climate risk and now form an important component of our overall risk credit analysis.”
About UrbanFootprint
UrbanFootprint is the world's first urban intelligence platform — a comprehensive urban, climate, and community resilience data system that serves mission-critical insights to the institutions that are rebuilding, financing, and insuring the world's physical and social infrastructure. UrbanFootprint’s data and web-based geospatial software unifies previously siloed climate, environmental, urban, socio-economic, and customer data and helps governments, utilities, financial institutions, and urban planners answer fundamental resource questions — where to invest, where to deploy resources, and where to optimize for risk, return, resilience, and community. In 2022, UrbanFootprint was named to both the Fast Company’s Most Innovative Companies list and the GovTech 100 list for the second year in a row, and in 2021 was also awarded Inc.’s Best in Business Awards and Fast Company’s Innovation by Design Awards. Visit: https://urbanfootprint.com/
