Jupiter, a US-based climate analytics company, has raised $54 million in a Series C funding round led by Clearvision Ventures and MPower Partners.
CDPQ and the company’s existing investors, including DCVC, Energize Ventures, Ignition Partners, Liberty Mutual, MS&AD Ventures, QBE Ventures, and SYSTEMIQ, participated in the funding round.
The company will utilize the funding to enhance its sales and support services. The fresh funding will also be used to accelerate investment in research and development to provide more value to its consumers.
Jupiter said it provides climate analytics to 30 companies in the Global 2000, the US Department of Defense, and FEMA. Climate analytics help them understand the impact of climate change on their physical infrastructure and supply chains, risks to financial portfolios, vulnerabilities to human health and safety, and protect over $10 billion of physical assets.
According to Jupiter, asset managers, banks, chemical companies, cities, consulting and accounting firms, data centers, defense agencies, energy companies, insurers and reinsurers, pharmaceutical and resource companies rely on its advanced technology and climate analytics.
Rich Sorkin, Chief Executive Officer of Jupiter, said, “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. The profound challenges from climate change are multiplying, and the world is rapidly awakening to an ever-worsening reality. With this investment, Jupiter will serve increasing global demand for our climate risk analytics.”
Commenting on the investment, Geneviève Bouthillier, Managing Director, Private Mid-Market Companies and Stewardship Investing at CDPQ, said, “With its technology, Jupiter is helping business in various industries such as asset management, banking, energy and governments better understand and address the impacts of climate change. 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.”
Earlier this month, Energize Ventures raised $330 million while closing its second flagship fund. The company said over 70% of its new funding came from institutional investors or family offices.