Why We’re Investing in Urbint

Energize Ventures leads $60M Series C

Energize Ventures
Aug 24 · 4 min read

Energize is excited to announce we are leading the oversubscribed $60M Series C investment in Urbint, a leading operational risk management software platform. American Electric Power and OGCI Climate Investments also joined the round alongside existing investors Energy Impact Partners, National Grid Partners, Blue Bear Capital, and Salesforce Ventures. Energize principal Tyler Lancaster joins the Urbint board, and associate Eileen Waris joins as a board observer.

Aging critical infrastructure and climate change pose an existential risk

As the U.S. makes commitments to improve and electrify infrastructure at scale, utility, telecom, and other critical infrastructure operators will need to make significant improvements to their maintenance practices. Urbint helps customers in these industries prevent incidents and reduce O&M costs by making risk-based decisions across core operational programs.

Predicting and stopping costly threats with AI

Urbint’s suite of solutions offers energy and infrastructure customers products that enhance performance in three areas that matter most: cost savings, worker safety, and prevention and resiliency related to climate change.

Cost savings

In the U.S. alone, damages to underground assets cost midstream gas and utility companies $30 billion annually. Urbint’s risk management software helps utility customers reduce annual damage costs by 40 percent.

Worker safety

Only 45 percent of job-related safety risks are detectable by workers themselves. Hazards related to visible factors such as suspended loads, uneven work surfaces, or moving equipment are often easily identifiable to the naked eye. However, risks caused by unseen factors like temperature, pressure, or mechanical failure pose a bigger threat. Urbint uses AI to identify safety hazards and reduce the risk of serious worker injuries.

Climate change prevention and resiliency

In addition to Urbint’s cost-savings and safety-enhancing benefits, we are also excited about their ESG impact. The oil and gas industry is the second largest source of methane emissions. One of the leading sources of these emissions are leaks caused by aging natural gas infrastructure. To date, Urbint has prevented methane emissions equivalent to more than 80,000 metric tons of carbon dioxide from leaking into the atmosphere, by preventing third-party excavation damages to underground assets and identifying leaky or corroded pipes.

Sales-forward team with industry expertise

Urbint CEO Corey Capasso

Urbint has assembled a world-class team of entrepreneurs, engineers, and energy sector veterans. CEO Corey Capasso has successfully scaled and sold multiple technology companies. Urbint’s leadership team has decades of combined experience helping utility companies design and implement asset management strategies and scaling high-growth data-driven software companies. As they’ve grown, Urbint has continued to add their roster of experts in software, AI, critical infrastructure and energy.

What’s next for Urbint and Energize?

We are excited to partner with this team and help them scale to meet growing global challenges posed by aging infrastructure and climate risk.

Energize Ventures

Accelerating digital innovation in energy and heavy industry