Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Jupiter raises $23 million for climate risk analytics



ImpactAlpha, March 5 – Data analytics company Jupiter Intelligence works with public sector agencies and private companies in real estate, insurance, energy and infrastructure to help them assess and plan for climate-related risks. The company has secured $23 million in Series B funding backed by energy-focused investment firm Energize Ventures, impact investor SYSTEMIQ, and insurance firms QBE, Mitsui MS&AD and Nephila.

Jupiter was launched in 2016 with roots in an earlier business co-founders Rich Sorkin and Eric Wun started to predict weather patterns for commodities traders, TechCrunch reports. That business, called Zeus, never fully took off. Jupiter is more robust than that original idea, using global climate models as the basis for estimating potential damages from severe weather incidents, intensifying storms and rising sea levels and temperatures.

Jupiter can make predictions at the asset level—“at the loading dock of a warehouse or a transmission box or a hotel on the beach, we determine the actual expected risk in a form that the insurance industry or the risk manager at an organization can use and integrate into their plans,” Sorkin told TechCrunch

The Bay Area-based company’s software is in use in New York City, South Florida, Houston and Europe for a range of issues including infrastructure site selection, design, and supply chain management, as well as capital planning, risk management, investment valuations and shareholder disclosures.

Institutional Shift: Climate risk hits the market and other impact investing trends to watch in 2019 (podcast)

In a statement, Jupiter’s investors noted growing demand among public and private sector actors for tools to help them anticipate and manage climate risk. “Driven by the growth of extreme weather events, our critical infrastructure partners are now proactively seeking highly tailored and actionable resiliency management technology solutions,” Energize Ventures’ John Tough said.

Jupiter plans to use the Series B funding to expand geographically and add new climate perils to its model.

You might also like...