Understory Raises $5.25M to Expand Deployment of Global Weather Sensor Network

The Series B funding round, led by True Ventures, brings total funding to $22.25M and will be used  accelerate international expansion across insurance, agriculture, government and environmental markets.

(Understory weather sensor station in Buenos Aires Province, Argentina.)

Understory, the Madison, Wisc.-based creator of a weather network and analytics services to the insurance and other industries has closed a $5.25 million Series B funding round led by True Ventures (San Francisco) with participation from 4490 Ventures (Madison, Wisc.) and Revolution’s Rise of the Rest Seed Fund (Washington, D.C.).

Alex Kubicek, CEO, Understory.

“Our commitment to disrupt outdated methods for dynamic weather analysis is the primary focus for this next stage of growth,” comments Alex Kubicek, Co-founder and CEO of Understory. “We are excited to work with our investors who are supporting our mission of creating a higher standard for hyperlocal weather monitoring.”

The new funding follows a $7.5 million growth round in November 2018 (in which 4490 Ventures and Revolution also participated) and Understory’s March 2018 recent expansion into South America. The funding investment supports the international expansion of the weather sensor network across multiple industries including agriculture, insurance, and air quality, according to an Understory statement. The new capital will also be allocated to increase the company’s employee headcount and to expand into a new headquarters facility to sustain Understory’s growth as the company scales globally.

Puneet Agarwal, Partner, True Ventures.

“Understory is fundamentally transforming how weather data infrastructure will be used across the globe,” comments Puneet Agarwal, Partner, True Ventures. “The on-the-ground insight of critical weather events is essential for innovative decision-making across a wide variety of industries. We look forward to witnessing Understory continue to remodel the accessibility and accuracy of real-time weather information on a global scale.”

Revolution in Weather Intelligence

Understory’s weather stations funnel 125,000 measurements a second into an artificial intelligence (AI) core that measures precise hail, rainfall, temperature, humidity, wind and solar radiation, and air quality. The AI core analyzes the data to provide critical atmospheric, climate, and weather data to optimize decision-making across agriculture, insurance, government and environmental markets.

David Hall, Partner, Revolution’s Rise of the Rest Seed Fund.

The Understory weather network has been used in several industries, including in agriculture to determine irrigation and optimal harvest dates and times. With stations in metropolitan areas across the country, municipal leaders can leverage Understory sensors to track air quality and determine the impact of air pollution reduction strategies in urban environments.

“Understory is redefining the prioritization of weather data,” comments David Hall, Partner, Revolution’s Rise of the Rest Seed Fund. “Capable of deploying cost-effective weather technology and pinpointing hyperlocal weather data in real-time, Understory has the potential to transform billion dollar global markets. We are proud to be investing again in a company that is scaling innovation outside of the traditional tech hubs.”

Throughout the U.S., Understory has deployed more than 600 stations within five major metropolitan areas and on multiple continents, with plans to further increase globally in 2019. The company recently announced Project Atmosphere, Understory’s initiative to bring its Atmosphere technology to 10 new cities around the globe.

Understory Secures $7.5M in New Funding

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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