Participated · Series D · Jun 2020

Urjanet operates a cloud-based utility data platform and suite of APIs that delivers permissioned data from thousands of utility, telecom and cable providers across 47 countries. Its core products enable businesses to automate and digitize manual, paper-based invoice and payment workflows, including the newly announced Utility Bill Capture for Payments which delivers recurring utility and telecom bills via a single API. The company emphasizes a 100% permission-based data access model to support consumer and commercial use cases such as bill presentment, payment and AP automation. Urjanet plans to use new capital to accelerate adoption of its platform, launch additional products, and help customers migrate from face-to-face and paper processes to fully digital, automated workstreams. Leadership frames the investment as validating demand for alternative data sources and electronic payment experiences, particularly as businesses shift away from in-person interactions. Urjanet offers a cloud-based DaaS platform that connects directly to utilities to acquire and normalize disparate utility bill and interval data. It provides line-item detail from approximately 4,000 utilities in 30 countries across electric, gas, telco, water, and waste providers. SMEs and multinational companies use Urjanet to automate accounting and bill processing, manage energy costs, comply with energy reporting regulations, and monitor sustainability. The company was founded at ATDC and its technology was developed at the Georgia Institute of Technology through a research and funding partnership with the NSF and the Georgia Research Alliance; Urjanet is headquartered in Atlanta. Urjanet plans to expand its global network of utility providers and launch new data applications in financial services focused on alternative credit scoring and identity verification. The company announced a $20 million Series C to support those expansions; existing investors include Grotech Ventures, Correlation Ventures, Imlay Investments, and the Georgia Research Alliance. Urjanet is an Atlanta-based SaaS provider that supplies energy data and analytics to heavy energy-consuming enterprise customers. Its platform connects to over 600 utilities and integrates with energy monitoring tools, business intelligence platforms like Salesforce, and accounting systems to aggregate meter data, regional pricing, taxes and consumption rates. Urjanet delivers insights that help customers measure energy use, model how future projects will affect energy expenditure, assess return on energy spend and track carbon footprint. Two of its customers reportedly spend over $1 billion on energy annually. The company closed a $4 million Series B and says the funds will be used to expand sales and marketing and to add to its infrastructure. It faces competition from bill-payment vendors and emerging startups such as Gridium as the market for energy-data services grows. Urjanet’s platform collects and reconciles energy and environmental data from many sources, including smart meters, and delivers a data feed directly to customer applications and decision-support systems. Developed in collaboration with researchers at the Georgia Institute of Technology, the platform helps large-scale energy users make complex decisions to lower energy costs and reduce carbon footprint. The company serves multiple large blue-chip and Fortune 500 clients. Innovation and commercialization are supported by the Georgia Research Alliance, the GRA VentureLab program at Georgia Tech, and the National Science Foundation. Urjanet plans to deploy its technology more quickly to large-scale energy users worldwide and aims to capture significant share in the emerging energy intelligence market. The company completed a $2.2 million Series A financing to support those efforts.