ClimaCell, whose AI-powered platform helps businesses cope with various weather-related challenges, announced Tuesday it has raised $23 million in a Series C funding round. The capital brings ClimaCell’s total funding to more than $100M.
The round was led by new investor Pitango Growth and existing investor Square Peg Capital. The Boston and Tel Aviv-based company plans to use the new funding to expand its R&D, marketing and other strategic initiatives.
ClimaCell's platform helps businesses make smart decisions about operations by providing them with actionable suggestions, such as safety measures due to inclement weather.
"ClimaCell is taking the next step in disrupting the weather industry by providing the most valuable and actionable weather intelligence to our customers, and we’re excited to continue working with our amazing partners at Square Peg," said Shimon Elkabetz, Co-Founder and CEO of ClimaCell. “Alongside Square Peg, we were truly impressed by the team at Pitango Growth and are looking forward to working together."
According to the company, the key differentiator in ClimaCell’s product is the company’s automated and predictive impact technologies, which help customers save millions in operational efficiency, improve safety, and avoid significant costs and damages from weather events.
"ClimaCell is the only SaaS company that enables actionable items ahead of weather events rather than reacting to them and their implications and ramifications,” said Aaron Mankovski, managing general partner at Pitango Growth. “The opportunities coming to ClimaCell across industries including supply chain and logistics, railroads, trucking, shipping, on-demand, energy, insurance, and more represent a complete upending of the existing competitive landscape and is a testament to being laser-focused on customer value.”
Founded in 2016, ClimaCell's customers include Uber, Delta, Ford, the U.S. Open and Porsche.
“While you can’t control the weather or pandemic outbreaks, you can, with the right actionable insights in the right context and time, take control of the outcome,” CEO Elkabetz said previously in a blog post.