The company is adding an additional $22M to its latest funding round after announcing $87M in funding in June
Tomorrow.io, the world’s leading weather intelligence and climate adaptation platform, is expanding its Series E funding round by adding an additional $22M in funding from Lumir, MoreTech Ventures, Shavit Capital, and The Strategic Development Fund (SDF). The additional funding comes after the company announced $87M in Series E funding in June, led by Activate Capital.
“Lumir is thrilled to partner with Tomorrow.io’s elite team in leveraging advanced cloud infrastructure, pioneering global forecasting, and proactively enabling adaptation against ongoing and extreme weather events,” said Josh Liberman, Founder of Lumir. “As a ground-breaking category creator, their vertically integrated approach equips large enterprises and nations with the technology needed to mitigate risk in an increasingly volatile climate.”
While the company has been on an exciting trajectory since inception in 2016, the previous 12 months has seen the successful launch of Tomorrow.io’s first two precipitation radar-equipped satellites, the release of its generative AI called “Gale,” and a number of high-profile new customers globally across the enterprise, federal, and government sectors.
“In the few short weeks since we originally announced our Series E funding in June, the world has already seen record-breaking heat waves, wildfires, and first-of-its-kind flooding events,” said Shimon Elkabetz, CEO and co-founder of Tomorrow.io. “Having automated end-to-end proactive workflows in place to predict impact, provide adaptive insights, and enable people to take action is a long overdue reality businesses and governments are waking up to with pressing operational challenges in need of solving now.”
“The risks our global climate is having on people, businesses, and governments is growing exponentially,” said Zack Keinan, Managing Partner at MoreTech Ventures. “The platform, data, and automation Tomorrow.io is building has quickly become best in class, and their next phase of growth will continue pushing the envelope of what is possible.”
The further funding will be allocated alongside the initial Series E funding to accelerate the completion of its full constellation, revenue growth, and specific strategic initiatives on a path to profitability.