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.
Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for free
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.
Like this article? Get more from Axios and subscribe to Axios Markets for free.