California is in the midst of yet another devastating wildfire season but a host of Bay Area-based companies are in the midst of creating tools to better prepare for the next. One of those companies is SF-based startup Kevala. The data analytics company announced Tuesday that it raised $21 million in a Series A round co-led by C5 Impact Partners LP and Thin Line Capital. The latest raise signals that climate change is top of mind for Bay Area investors and entrepreneurs alike.
With its data platform, Kevala aims to provide industry leaders with an objective understanding of the production, delivery and consumption of energy. The platform achieves this through three core product offerings.
The first, Kevala’s Network Assessor, offers actionable insights into grid infrastructure as a whole. Next up is the company’s Grid Assessor tool, which provides solar developers with a way to search, filter and find ideal locations for new projects. And last is Kevala’s EV Assessor, which offers a similar service to automakers in order to identify the best spots for electric vehicle charging stations.
“We can dramatically increase the deployment of our grid analytics tools to help secure America's infrastructure and radically decarbonize our economy at an ever- accelerating pace,” Aram Shumavon, founder and CEO of Kevala, said in a statement. “[Our] solutions provide real-time, actionable data and clear roadmaps for utilities, developers, and regulators, delivering immediate value across the entire market.”
In addition to helping its clients process grid data, Kevala can be used to map out the carbon intensity of different energy sources, assess existing vulnerabilities in public infrastructure and more.
“With the proliferation of grid-connected solar, storage, and a range of other distributed energy resources, America's energy infrastructure is rapidly evolving,” Tom Werner, a Kevala adviser and investor, said in a statement. “As the landscape grows more complex, Kevala’s tools are increasingly critical for a range of companies across the energy sector managing resources both on-site and off-site.”
Kevala is now hiring for over a dozen roles across its engineering, product, sales and operations teams, to name a few. Additional investors in the company include Mark Ferron, the former California public utilities commissioner.
