SOMERVILLE, Mass., May 11, 2021 /PRNewswire/ -- VIA, a global trailblazer in AI and privacy-preserving software for the energy industry, announced today that it closed a $10 million Series A investment, more than doubling its valuation. VIA chose the Westly Group as its lead investor. This round will fuel the company's next phase of growth, including hiring best-in-industry talent, expanding its customer base (particularly in the U.S. and Western Europe), and continuing to fast-track delivery of its groundbreaking software platform, in support of its clean energy mission.
The Westly Group was joined by a top five Silicon Valley-based enterprise software company, as well as Prefix Capital, a leading deep technology focused venture capital firm.
"We founded VIA because of the urgent need for AI in the energy space. The grid simply cannot adopt 100% clean technologies without AI. Data access and privacy were always major hurdles – until VIA," said Colin Gounden, CEO of VIA. "We're exceptionally pleased to see our traction and results recognized. This investment will help us meet the exponentially growing customer demand for our platform in the power sector."
VIA's current roster of customers includes energy sector leaders such as ConEd, Enel, and Hawaiian Electric. In addition, VIA has an ongoing evaluation with EPRI, a consortium of more than 400 utilities. With 2 issued patents and more than 12 pending, VIA's first-of-its-kind, privacy-preserving AI platform, Trusted Analytics Chain™ (TAC™), also meets the highest DevSecOps standards, as evidenced by its fifth award by the U.S. Department of Defense earlier this year.
VIA anticipates key hires over the next several months as well as major customer and partner announcements. Follow the latest from VIA by visiting www.solvewithvia.com/latest/ or on social @solvewithvia.
VIA is powering the clean energy revolution. Working with the world's leading utilities, clean energy companies, and government agencies, VIA's software overcomes the most common barriers to AI: lack of data, data quality issues, and data privacy concerns. As a result, VIA's software accelerates the AI required for the clean energy transition. VIA also provides the bridge that enables EVs, battery storage, demand response, and distributed energy resources to be on the grid. VIA is headquartered in Somerville, Massachusetts, with a technology center in Montreal, Quebec. For more information, please visit www.solvewithvia.com.