Monday, March 4, 2019

Ignition Backs Climate Risk Analytics Firm Jupiter In Big Funding

Seattle-based venture investor Ignition Partners has made an investment in climate risk analytics software developer Jupiter, $23M in a funding round announced on Monday by Jupiter. According to Jupiter, the Series B funding round came from Energize Ventures and including Mitsui MS&AD, QBE, Nephila, SYSTEMIQ, as well as un-named private equity funds. Piror investors Data Collective (DCVC) and Ignition Partners also invested. Jupiter offers up data analytics to gauge the risk of floods, fire, heat, drought, and other environmental impacts due to climate change--on any time scale, from an hour ahead to 50 years. The company said its its services are driven by artificial intelligence. The new funding will go towards "aggressive" expansion into new perils, geographies, and resiliency services, according to the company. The company's lead products, "FloodScore" and "HeatScore", are already being used for climate-related risk assessment for New York City, South Florida, Houston, as well as in Europe, according to the company.