(Credit: Pixabay)Raptor Maps has closed $22 million in Series B funding to supercharge its Raptor Solar software platform. Raptor Solar is a software-as-a-service platform that manages the entire solar lifecycle, from financing and development through operations, the company says. The software lets utility-scale and C&I solar companies standardize and analyze data, collaborate, optimize PV assets, reduce risk, and ultimately lift financial return.
The SaaS platform serves as an auditable system of record featuring digital twins of solar assets. Users can scan in module serial numbers to streamline warranty claims and verify supply chains. Subscribers benefit from inspection analytics, productivity tools and ability to quantify financial loss and even benchmark portfolios against Raptor Maps’ global database, the company says.
The round is led by Canadian private investment firm MacKinnon, Bennett & Co. (MKB), which specializes in accelerating innovation in energy, transportation and climate tech. Other investors include the Microsoft Climate Innovation Fund, Blue Bear Capital, DNV, Buoyant Ventures, Congruent Ventures, Data Point Capital and Engie New Ventures.
The funding will enable Raptor Maps to accelerate its hiring plans with significant investment in product, software and data science. The company will advance its offering with more functionality related to workflow automation, work orders, investor reporting, and insights-powered machine learning.
Recently, annual reports have shown that companies are focusing more on ESG disclosure. A Deloitte survey of 300 senior finance, legal and sustainability leaders found that companies are working toward more reliable data in ESG reporting, with investments in technology, controls design and implementation resources to meet the growing expectation for high quality ESG reporting information. Jefferies US Tech says that the technology industry is seen as a key player in ESG moving forward, especially with the amount of connectivity needed to power smart applications, electric vehicles, microgrids and more. As the focus on ESG disclosure continues to intensify, companies are increasingly seeking tools to help them more effectively manage their ESG data.
MKB has also invested in other sustainability focused companies, including its MKB Partners Fund II, LP, a $175 million fund that will invest in late venture and early growth-stage companies focused on the electrification, decarbonization and digitization of transportation and energy.
