ATLANTA, July 28, 2011 – Urjanet Inc., an Atlanta-based company that helps large-scale energy consumers manage energy use and environmental impact, announced the completion of a $2.2 million Series A financing with investments from GRA Venture Fund LLC and Imlay Investments, Inc.
“This investment round will allow us to bring our innovative technology more quickly to large energy users worldwide,” said Urjanet CEO Sanjoy Malik. “These companies spend hundreds of millions of dollars on electricity and natural gas at multiple, often widespread, locations. They need robust intelligence to contain costs and manage environmental impact.”
Urjanet’s platform, developed in collaboration with researchers at Georgia Tech, collects and reconciles energy and environmental data from many sources, allowing businesses to make complex decisions about energy use and cost.
“Urjanet exemplifies the kind of company that GRA Venture Fund was created to support,” said Fred Cooper, Chairman of the Fund’s Board of Directors. “The Urjanet technology platform was born in the research laboratories at Georgia Tech and addresses some of the most significant challenges for large energy users in a sophisticated way.”
Sig Mosley, president of Imlay Investments, noted, “Urjanet has already proven the value of its unique solution with large Fortune 500 companies, and it is poised to capture significant share in this rapidly emerging market.”
Urjanet also announced that David M. Ratcliffe, retired Chairman and CEO of Southern Company, has joined its Advisory Board.
Urjanet offers large companies an automated, accurate, and easy-to-use service that helps them to lower energy costs, reduce their carbon footprint and more effectively evaluate long-term energy investments. Urjanet’s platform collects, reconciles, and analyzes energy and carbon-related data from many different sources including smart meters. Urjanet’s data feed is delivered directly to customer applications and decision-support systems. Founded by a team of veteran entrepreneurs, Urjanet is headquartered in Atlanta, Georgia, serving multiple large blue-chip clients and is becoming a leading provider of energy intelligence to business and industry.
About Imlay Investments
Imlay Investments Inc. is a venture capital firm specializing in incubation, seed, and early stage investments. The firm seeks to invest in high technology companies. It prefers to invest in companies based in Southeastern United States predominantly in the Atlanta area.