To Deliver Resiliency to Every Sector of the Global Economy with Actionable Climate Analytics
SAN MATEO, Calif., Oct. 21, 2021 (GLOBE NEWSWIRE) -- Jupiter, the global leader in climate analytics for resilience and risk management, today announced a $54M Series C Financing, co-led by Clearvision Ventures and MPower Partners.
Jupiter now provides analytics to 30 companies in the Global 2000, U.S. Department of Defense and FEMA to understand the impact of climate change on their physical infrastructure and supply chains, risks to financial portfolios, and vulnerabilities to human health and safety, and to protect over ten billion dollars of physical assets and more than a trillion dollars of financial assets.
The world’s largest asset managers, banks, chemical companies, cities, consulting and accounting firms, data centers, defense agencies, emergency managers, energy companies, insurers and reinsurers, pharmaceutical and resource companies, and wine producers rely on Jupiter’s advanced technology and climate science.
The new investment will be used to accelerate the company’s rapid expansion in sales and support to meet increasing customer demand, especially in the 20 sectors of the global economy where Jupiter is already the leading supplier. Jupiter also will use the funds to accelerate investment in R&D to deliver more value to Jupiter’s current and future customers, who have subscription access to nearly 150 trillion data fields, produced using cloud-based supercomputing.
“Investments from leaders across the globe, representing every sector of the economy, reflect the growing recognition that organizations need powerful analytic tools to invest in resilience to reduce the impacts and risks from climate change,” said Rich Sorkin, Jupiter’s CEO. “The profound challenges from climate change are multiplying and the world is rapidly awakening to an ever-worsening reality. With this investment, Jupiter will more quickly and broadly serve increasing global demand for our best-in-class climate risk analytics.”
The biggest new investors in the funding were CDPQ, a global investment group, Japanese venture firm MPower Partners, Clearvision Ventures, and one of the world’s largest university endowments. All of Jupiter’s major existing investors—DCVC, Energize Ventures, Ignition Partners, Liberty Mutual, MS&AD Ventures, QBE Ventures, and SYSTEMIQ — also participated.
“With its technology, Jupiter has become a market leader in climate risk analytics, helping businesses in various industries such as asset management, banking, energy and governments better understand and address the impacts of climate change,” said Geneviève Bouthillier, Managing Director, Private Mid-Market Companies and Stewardship Investing at CDPQ. “As an investor determined to direct more capital towards sustainability opportunities, we are delighted to support Jupiter’s growth while delivering returns for our clients.”
Existing investors Dara Holdings (Lubna Olayan), David Baran (Co-CEO, Symphony Financial Partners), and Roger Orf (Vice Chairman, Apollo Global Real Estate) all increased their ownership. They are joined by Bobby Mehta (former CEO of HSBC North America and current Director at JLL, Allstate and Northern Trust), Allan Thygesen (President of Google Americas and Global Partners), Jack Oliver (former Vice Chair, Finance Bush 2000), and the families of the founders of PanAm, Standard Oil, and U.S. military aviation.
“Too many organizations are still ill-prepared for the accelerating effects of climate change. Jupiter continues to attract outstanding people and financial resources to help minimize the worst impacts,” Sorkin added. “Our Series C funding is the latest milestone in Jupiter’s growth and will help us address humanity’s most pressing problem.”
About Jupiter
Jupiter is the global market, science, and technology leader in physical climate analytics for risk management and resiliency planning. Its analytics are used across the private and public sectors: customers include at least one of the world’s five largest firms in asset management, banking, chemicals, insurance, minerals and mining, oil and gas, pension funds, pharmaceuticals, power, and reinsurance—as well as critical departments and agencies within both the United States government and climate-change-vulnerable geographies around the world. Jupiter’s ClimateScore™ Intelligence Platform provides sophisticated, dynamic, hyper-local, current-hour-to-50-plus-year probabilistic risk analysis for weather in a changing climate. The company’s FloodScore™, HeatScore™, WindScore™, FireScore™, and ClimateScore Global™ services are used for climate-related risk assessment and management worldwide. Jupiter’s models are based on the latest science, as developed by the global Earth and Ocean Systems science community.
Jupiter offers commercial services to asset owners in critical infrastructure, financial services including insurance, banking, and asset management, energy, and real estate, and the public sector. These customers use Jupiter services for a broad range of applications, including capital planning, risk management, site selection, design requirements, supply chain management, investment and asset valuations, and shareholder disclosures. For more information, please visit jupiterintel.com.
Media Contact:
Hugh Moore
Broadsheet Communications
202-471-0661
hugh@broadsheetcomms.com
