Series A funding will drive expansion of platform, which enables quick, AI-powered insights previously unavailable in the energy sector
BIRMINGHAM, Ala., March 5, 2024 — HData, a company using AI and automation to help the U.S. energy industry to file, explore, analyze, and leverage regulatory data, today announces the close of $10 Million in Series A funding, led by Buoyant Ventures, an early-stage venture fund that invests in digital solutions to combat climate change. Participating investors include Victorum Capital, Hyde Park Venture Partners, and Firebrand Ventures, among other prominent investors. Funds will be used to accelerate the expansion of the flagship HData platform with enhanced capabilities for energy industry professionals.
HData’s innovative AI-powered platform enables clients to receive, analyze and understand crucial data, empowering key strategic decision-making for energy initiatives. HData’s expanded platform will play a crucial role by amassing the largest authoritative library of structured and unstructured regulated energy data in the industry, and equipping companies with powerful AI tools that can quickly unearth intelligence that previously would have taken months to uncover, if at all. This caliber of analysis will transform energy companies’ day-to-day while also providing the critical energy transition intelligence required to solve significant regulatory and climate-related issues.
“HData stands at the digital forefront, bridging the gap between the current energy sector and its sustainable future,” said Hudson Hollister, co-founder and CEO of HData. “With our Series A funding from Buoyant Ventures and other key investors, we are set to broaden our platform’s impact, unlocking insights from industry data to make better decisions today and positioning our customers to navigate the changing industry tomorrow.”
Allison Myers, general partner and co-founder at Buoyant Ventures, emphasized HData’s transformative potential: “HData’s platform can unlock and analyze the industry data that is crucial to transitioning our energy economy efficiently,” Myers said. “Buoyant is passionate about energy transition intelligence, and we see HData’s technology as an essential tool and opportunity to help the industry and regulators address the climate crisis. We also see HData’s work as a blueprint for addressing other monumental issues and heavily regulated industries which require precise data analytics.”
This funding also spotlights HData’s work with leading energy companies, such as Southern Company, to enhance reporting, decision-making, rate case analysis, and industry benchmarking, ultimately streamlining compliance and risk management and fostering a more efficient, data-driven approach within the utility sector.
“HData’s AI-enhanced data analytics is an exciting development for the sector,” said Noel Black, SVP of Federal Regulatory Affairs at Southern Company. “At Southern Company, we are committed to serving customers with safe, reliable and affordable energy. Our commitment to net zero goals and our customers will be greatly assisted by the insights and intelligence provided by HData.”
Currently used by more than 30 regulated energy companies and supporting organizations like consultants, intervenors, and regulators, HData’s platform automates the entire regulatory data lifecycle from collection to actionable insights, allowing energy professionals to focus on strategies that drive growth and sustainability. To learn more about HData and its pioneering solutions in the energy industry, visit www.hdata.us.
About HData
HData is a technology company that enables anyone in the energy industry to file, explore, analyze, and capitalize on authoritative regulatory data. Using AI and analytics, HData’s platform transforms millions of pages of filings and dockets – previously tedious, manual, and error-prone to manage – into rich intelligence, empowering analysts, and executives to make crucial decisions with confidence. HData’s groundbreaking Regulatory AI allows users to query fully secured data libraries (including their own private documents) to get quick and accurate answers to their business-critical questions. The company was named to the GovTech 100 by Government Technology Magazine, appointed to the SAP.iO Munich Sustainability and Energy Management cohort, and recognized as the ‘Best Regulatory or Compliance Startup’ at the 2023 TLTF Summit. Visit www.hdata.us for more information.
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SOURCE HData
