We believe strongly in the management team and that the solutions being created by Space-Time Insight deliver unique real-time insight into the tsunami of data faced by utilities and other leading businesses in the energy sector."
Arlington, TX (PRWEB) September 19, 2012
At Utility Analytics Week, Space‐Time Insight, the leading provider of next‐generation situational intelligence solutions, today announced that it has raised $14 million in Series B funding to speed adoption of the company’s innovative geospatial and visual analytics software. Three investment funds focused on emerging companies active in the energy sector, EnerTech Capital, Novus Energy Partners, and ClearSky Power & Technology Fund, join existing investors, Opus Capital Ventures and Start Up Farms International (SUFI), in this round of financing.
“We are delighted to have such an accomplished group of investors backing Space-Time Insight as we strive to meet the rapidly growing demand for situational intelligence,” said Space-Time Insight CEO, Rob Schilling. “The big data analytics solutions we have successfully deployed at some of the largest energy companies around the world are proof that we can help businesses not only gain unique insights into vast quantities of disparate data, but also use that data intelligently, dramatically improving the speed and accuracy of operational decisions.”
Space-Time Insight’s award-winning software uniquely helps its customers reduce risk, improve service reliability, and maximize shareholder value through sophisticated visualization and analysis of massive volumes of diverse real-time and historical data. The proceeds of Space-Time Insight’s second round of financing will be used to enhance the company’s suite of situational intelligence solutions and expand its sales and marketing activities in the energy and other capital asset intensive industry sectors.
“As an early investor in Space-Time Insight, it’s been gratifying to see the progress the company has made—both in product development and in the success of their sales and marketing efforts,” said Gill Cogan, General Partner at Opus Capital Ventures. “As increasing volumes of data challenge businesses across a range of industries, Space-Time Insight’s innovative visual approach to analysis is a differentiator, especially in situations where users need to process, understand and make decisions on a lot of disparate information as quickly as possible. We look forward to seeing what this next stage of investment will bring.”
“We are delighted to be part of the next chapter of Space-Time Insight’s growth, and to support a clear leader in situational intelligence for the energy sector,” said Tucker Twitmyer, Managing Director at EnerTech Capital. “We believe strongly in the management team and that the solutions being created by Space-Time Insight deliver unique real-time insight into the tsunami of data faced by utilities and other leading businesses in the energy sector.”
With this round of funding, Space-Time Insight also adds Novus Founding Partner, Martin Aares, ClearSky Power & Technology Fund Managing Director, James Huff, and Tucker Twitmyer, to the company’s Board of Directors, strengthening an already deep bench with individuals distinguished by their successful track records supporting early-stage innovators in both new and traditional energy markets.
About Space-Time Insight
Space-Time Insight transforms vast quantities of disparate information into intuitive visual displays that businesses can use to make informed real-time decisions. From traditional transmission, communications and transportation networks to Smart Grids and Cities, our next-generation situational intelligence solution is making critical infrastructure smarter, safer and more reliable. With Space-Time Insight, enterprises can visualize and analyze their resources across location and time, rapidly respond to disruptions in service, and lower risk while increasing customer satisfaction and profitability. Major organizations around the world rely on our high performance software to gain actionable insights into their businesses and make real-time operational decisions. Space-Time Insight’s partners include Accenture, EMC, HCL, IBM, OSIsoft, SAP and Wipro. Space-Time Insight is privately held and based in Fremont, CA. For more information, visit http://www.spacetimeinsight.com.
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