Urjanet, an Atlanta, GA-based utility data provider, received $20m in Series C funding.
The round was led by Oak HC/FT.
The company intends to use the funds to expand its global network of utility providers as well as launch new data applications in the financial services industry that focus on alternative credit scoring and identity verification.
Led by Sanjoy Malik, CEO, Urjanet offers a data-as-a-service (DaaS) solution that provides line-item detail of cost and usage information from approximately 4,000 utilities in 30 countries.
The data that the system accesses from electric, gas, telco, water, and waste providers aims to enable SMEs and multinational companies to automate their accounting and bill processing, manage energy costs, comply with energy reporting regulations, and monitor sustainability.
The company’s technology was developed at the Georgia Institute of Technology through a research and funding partnership with the National Science Foundation and the Georgia Research Alliance (GRA).
Investors also include Grotech Ventures, and Correlation Ventures, Imlay Investments, and the GRA.