Israeli weather intelligence platform ClimaCell announced this week that it has completed a USD 77 million Series C funding round led by private equity firm Stonecourt Capital, with participation from Highline Capital.
This brings the company’s total funding to over USD 185 million to date.
The company also announced that they are changing the name of the their firm to Tomorrow.io.
The company’s CEO and co-founder, Shimon Elkabetz, wrote in a blog post that the company’s rebranding to Tomorrow.io was “not a decision we took lightly, and it is one we have been working on for almost a year.”
“The truth is, we didn’t choose our new name. It chose us,” Elkabetz wrote. “Tomorrow.io perfectly captures everything that businesses, individuals, and countries want from the weather industry. Tomorrow.io is not a weather company. We are not a meteorologist consulting-based company. We are a technology company disrupting the weather industry.”
The company does not focus on broad forecasts or raw weather data, but rather on the predictive impact of forecasted weather to enable operational and actionable insights, according to Elkabetz.
“CEOs should start thinking about weather intelligence in the same way they think about their cybersecurity strategy. They need to think of tomorrow,” he added.
The company, founded in 2016 by CEO Shimon Elkabetz, CSO Rei Goffer, and COO Itai Glotnik, is building proprietary satellites equipped with radar, and launching them into space to improve weather monitoring and forecasting capabilities. Customers include Uber, Ford, Delta, and more.
Tomorrow.io will use the funding to accelerate its SaaS business and continue to focus on developing its AI and machine learning technology.
In February, the company announced Operation Tomorrow Space, a project they said “will be a first in the history of the weather industry, and bring critical weather radar coverage to the entire globe.”
Operation Tomorrow Space will launch their designed proprietary radar-equipped satellites into space in the coming years. The project aims to improve global forecasting technology and capabilities.
This article first appeared in NoCamels, which covers innovations from Israel for a global audience.