The funding round was led by by Citi, via Citi Ventures and SPRINT, as well as Social Capital, an early investor in the gov tech company. New investors 2150, A/O PropTech, Assured Guaranty and Dcode Capital also took part.
The company works with public agencies and private financial, real estate, finance and energy operations. According to a statement from UrbanFootprint, the new money will “accelerate the delivery of climate and community intelligence to the energy, government, finance and real estate sectors.”
More specifically, the company says its software guides institutions on how to “reduce climate vulnerability and increase the resilience of critical infrastructure and communities,” according to that statement. UrbanFootprint uses what it calls “previously siloed data points” around climate, land use and other factors, and then connects all that information to a “proprietary canvas of 160 million land parcels that cover nearly every inch of the United States.”
The company said its data and mapping tools help clients analyze specific local social and economic conditions and figure out intervention and investment priorities.
“UrbanFootprint provides decision-makers across industries with the ground-level insights they need to quickly and accurately evaluate risk and prioritize resources where they are needed most,” said Joe DiStefano, co-founder and CEO of UrbanFootprint, in the statement. “Today, UrbanFootprint is used by some of the nation’s largest energy utilities, financial institutions, government agencies and urban planning firms to answer complex questions in minutes versus weeks or months.”
Back in 2020, UrbanFootprint said that it had raised $11.5 million in a Series A funding round. The company was founded in 2014 and launched its eponymous platform in spring 2018.
UrbanFootprint has also put its technology to use to help ease a major pandemic-related problem: The threat of eviction for U.S. renters. Last July, the company detailed how it was helping state and local governments craft assistance programs for people at risk of losing their housing.
Editor's note: A previous version of this story misclassified the funding round as Series D; it was a Series B round.
