Secures $5 Million in Series-A Financing to Support Analytics Capabilities
ARLINGTON, VA — (BUSINESS WIRE) — May 5, 2015 — OmniEarth announced the expansion of its water resource management tools in support of California’s 20x2020 conservation plan and the increased pressure on water districts to reduce consumption during the continuing statewide drought.
The company has worked with a number of leading water suppliers and water economists to develop tools targeted to help drought-prone areas better manage their water resources. In addition to its presently available water management tools, OmniEarth offers individualized consulting services and has opened an office in Berkeley, Calif., to better support customers in the state. ( www.omniearth.net/water)
Separately, OmniEarth completed its Series A funding round with $5 million raised from investors in support of the company’s development of a range of analytics tools that use Earth observation data to help clients react to change in real time.
“Californians are not only experiencing extreme drought conditions; they are at the forefront of developing and adopting new technologies,” said Lars Dyrud, president and CEO of OmniEarth. “Our California office enables us to better respond to our primary water customers and address their rapidly changing needs.”
OmniEarth offers water management tools and is under contract with two California water districts to deliver custom analytics to help meet conservation goals. OmniEarth’s water resource management product is the only cloud-based, geospatial solution that automatically classifies and calculates land cover-based water budgets through analyses of high-resolution aerial and satellite imagery. This enables water districts to analyze usage by parcel and develop targeted conservation plans.
OmniEarth’s Satellite Services Division will also benefit from expanding into California, epicenter of the new space movement that is fueling innovation and funding for companies intent on launching new satellite constellations.
The completion of OmniEarth’s Series-A funding is a milestone in the company’s business plan that includes launching a 15-satellite constellation that will provide 5-meter, Landsat-quality data every where on the globe every day. Industry-veteran Frank McKenna, formerly president of International Launch Services, has joined OmniEarth to lead the efforts to build-out the company’s constellation.
About OmniEarth
OmniEarth improves our subscribers’ ability to visualize the world around them by enhancing their ability to see, analyze, and react to change in real time. Through a constant stream of geoinformatics, OmniEarth subscribers always have access to imagery and derived information products from any location on Earth – on demand and over time. Our desire to investigate unanswered questions about our changing planet has led us to produce a reliable, constant data stream and enhanced decision-making tools for subscribers in the agriculture, energy, civil and military markets … and everyone else who wants to better understand Earth. www.omniearth.net
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