Exclusive: Jupiter Intelligence raises $54 million
Jupiter Intelligence, a climate risk analytics company, has raised a $54 million Series C round, co-led by ClearVision Ventures and MPower Partners.
Why it matters: Climate change threatens to disrupt supply chains, damage or destroy factories, cause mounting insurance losses in extreme weather events, and potentially upend financial markets.
- Jupiter is one of the leading corporate players working to help reduce the climate risks to the public and private sectors.
Details: All of Jupiter’s major existing investors, including Energize Ventures and Liberty Mutual, participated in this round, the company said.
- The new money is more than Jupiter has raised in any previous round, and brings its total funding to about $100 million, according to CEO and co-founder Rich Sorkin.
What they’re saying: Sorkin told Axios the company will add 50 people to its existing workforce of 60. The company is also working to develop new services to be announced at a later date, he said.
- Sorkin said Jupiter has an “overwhelming market share” when it comes to assessing the physical risks to company or government-owned physical assets, and competes in this area with much larger firms such as Moody’s, McKinsey, Verisk and others.
- “The market for analytics to support resilience and risk management from the impacts of climate change, while still in its infancy, is exploding,” Sorkin said in an email.