Today we welcome First Street to the SE Ventures portfolio - congratulations Matthew Eby and team on the close of your $46M Series A round! 🎉 First Street is becoming the industry standard in assessing physical climate risk, driving broader awareness of climate change's tangible implications to real financial assets for both consumers and corporations. SE Ventures backs founders driving meaningful climate action and where our Corporate LP, Schneider Electric, can offer unique support and value. We look forward to building a lasting Partnership with Schneider's industry-leading Sustainability business to amplify First Street's mission and growth. Read more about the deal in Axios: https://lnkd.in/dACdnKWN #SeriesA #ClimateTech #Sustainability #venturecapital #climaterisk Amit Chaturvedy Varun Jain Julien Cristiani Siddharth Mehta Brad Jones Jonathan Hennessy Maya Lusk Arek Zarowski Amit Peri Stephan Prueger Caroline Alexander Wells Nadège Petit Steve Wilhite Dominic Barbato Erik Mohn Hugh Shannon Edward Kearns Innovation Endeavors Galvanize Climate Solutions Congruent Ventures General Catalyst Sam Smith-Eppsteiner Tomás Álvarez Belón Cliff Ryan Tyler Rudolph Genevieve Kinney Joshua Posamentier Eliza Cushman Scott Stephenson Mark Bruinooge
🚀 Big News! We have closed an oversubscribed Series A-1 only five months after our oversubscribed Series A, bringing the total amount raised to $46 million. Innovation Endeavors led this A-1 series, with other investors SE Ventures and Nuveen, a TIAA company joining Series A investors - Galvanize Climate Solutions, General Catalyst, and Congruent Ventures - to scale breakthrough advancements in physical climate risk modeling. This round of funding is set to advance two ambitious initiatives with the aim of democratizing access to our first-of-its-kind correlated risk model. The correlated risk model is able to instantly quantify the probability of material impact from multiple perils (floods, wildfires, hurricane winds) across a portfolio of properties. 🌎 Global Data Coverage: We're fast-tracking the expansion of our high-resolution data and trusted methodologies, previously available only in the U.S., to global markets, enabling everyone to understand climate risk like never before. 💻 Enterprise SaaS Solution: We're preparing to launch our enterprise SaaS solution, allowing companies and government agencies of all sizes to leverage the full power of our First Street data offering. Read full announcement: https://lnkd.in/g5Dz4ZcA #climaterisk #seriesA
Congratulations on the fantastic achievement! 🎉
Founder and CEO of First Street | Connecting Climate Change to Financial Risk
3moExcited to be part of the SE family!!