Space-Time Insight's Success in Big Data Visual Analytics Drives $20 Million Investment Round
Company Preps Situational Intelligence Solutions for Growing Worldwide Markets
SAN MATEO, Calif., September 11, 2013-- Space‐Time Insight, the leading provider of next‐generation situational intelligence solutions, today announced that it has raised $20 million in Series C financing to drive the company's continued expansion in the US and international markets. London-based private equity fund, Zouk Capital, joins current investors Opus Capital Ventures, EnerTech Capital, and Novus Energy Partners in this round of financing.
"To make critical decisions, companies worldwide need to analyze huge volumes of data residing in numerous silos across their IT and operational infrastructures in real-time," said Space-Time Insight CEO, Rob Schilling. "The Series C financing enables Space-Time Insight to extend the reach of situational intelligence, fulfilling the needs of those businesses and making a significant contribution to their bottom line. We are proud to have the support of our existing investors as well as Zouk Capital, which has a track record of growing businesses in new geographies across European and Asian markets."
Space-Time Insight's award-winning software enables its impressive list of major customers, such as Hydro One, Southern California Edison, the California ISO, Sacramento Municipal Utility District (SMUD), and a global delivery services company, to reduce risk, improve service reliability and efficiency, and significantly reduce costs through highly sophisticated visualization and analysis of massive volumes of diverse real-time and historical data. The funds will be used to further expand the company's presence in the US, Europe and Asia, while increasing its product offerings for capital asset-intensive industries such as Utilities, Oil & Gas and Transportation.
According to GTM Research, the global smart grid market is expected to surpass $400B by 2020 with an average compound annual growth rate of over 8%. With its proven ability to correlate, analyze and visualize huge data volumes in real-time across both traditional IT and operational (OT) systems, Space-Time Insight is uniquely positioned to take advantage of this opportunity and growth.
"Over the last few years the urgent need for software that enables businesses to understand and interpret vast amounts of data across many different systems has become critical from both a cost and resource efficiency basis," said Samer Salty, CEO at Zouk Capital. "Zouk has identified Space-Time Insight as the clear leader in its category and is thrilled to have the opportunity to contribute to its success. In particular, we look forward to working closely with the Space-Time Insight team in its further expansion into Europe and Asia."
Samer Salty will join Space-Time Insight's Board of Directors.
About Space-Time Insight
Space-Time Insight transforms vast quantities of disparate information into intuitive visual displays that businesses can use to make informed real-time decisions. From traditional transmission, communications and transportation networks to Smart Grids and Cities, our next-generation situational intelligence solution is making critical infrastructure smarter, safer and more reliable. With Space-Time Insight, enterprises can visualize and analyze their resources across location and time, rapidly respond to disruptions in service, and lower risk while increasing customer satisfaction and profitability. Major organizations around the world rely on our high performance software to gain actionable insights into their businesses and make real-time operational decisions. Space-Time Insight partners with leaders in the industry including Accenture, EMC, Esri, IBM, OSIsoft, and SAP. Space-Time Insight is privately held and based in San Mateo, CA. For more information, visit http://www.spacetimeinsight.com.
About Zouk Capital
Zouk Capital is a private equity and infrastructure fund manager investing in the clean economy. Zouk's distinctive dual-track strategy of Growth Capital and Infrastructure capitalizes on the opportunities created by the global shift to greater resource efficiency. Growth Capital invests in companies that are driving a more intelligent use of resources across sectors such as IT, industrial goods and services, energy, transport and logistics. Infrastructure creates clean infrastructure assets for capital gain by acquiring, developing and funding projects during the late-stage of development in sectors such as distributed energy, energy efficiency, waste to energy and geothermal. Zouk has invested in the clean economy since 2000 and is one of the largest and most active fund managers in Europe. Zouk has EUR 400m under management and has offices in London and Singapore.
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