US-based utility account data aggregator Urjanet received $14.7m in a series D round featuring credit score provider Equifax yesterday.
Oak HC/FT, Grotech Ventures, Correlation Ventures and private investor Pete Kight also contributed to the round, which lifted the company’s overall funding to more than $40m.
Urjanet has built a cloud-based platform that aggregates data generated by utility, telecommunications and cable television providers across 47 countries that can help businesses serve those sectors more effectively or support credit scoring and identity verification.
The company was founded by a Georgia Institute of Technology-affiliated incubator called Advanced Technology Development Center.
Sid Singh, president of Equifax’s United States Information Solutions subsidiary, said: “Erasing the problem of thin credit files or credit invisibility requires businesses to understand that consumers are more than a credit score.
“Giving people the ability to easily share their utility payment history can result in better loan and service decisioning and expanded access to credit – something that has become even more critical in the wake of Covid-19.”
Imlay Investments and public-private research organisation Georgia Research Alliance’s GRA Venture Fund supplied $2.2m in series A funding for Urjanet in 2011, before joining Grotech Ventures for a $4m series B round in 2012.
The company then raised $2m from undisclosed investors in 2016 and $20m from Oak HC/FT, Grotech Ventures, Correlation Ventures, Imlay Investments and GRA Venture Fund the following year.
