SAN FRANCISCO, CA, Jun 30, 2015 (Spire PR) — Spire, a satellite-powered data company, today announced it closed a $40 million Series B round of funding led by Promus Ventures with participation from new investors Bessemer Venture Partners and Jump Capital, as well as existing investors RRE Ventures and Lemnos Labs, among others. To date, Spire has secured just over $80 million through three rounds of funding. With the new funds, the company will support further growth and expand its constellation from 20 satellites in 2015 to more than 100 by the end of 2017.
The latest round of financing comes at a time when the need for advancements in weather and maritime data is at an all-time high. With the potentially catastrophic 2016 Weather Gap right around the corner, Spire offers a solution to the $2.4 trillion dollar global problem. Emerging as a leader in the ‘Space Race 2.0,’ Spire is the only commercial weather data provider with scheduled launches in 2015. The company will begin deploying its satellites on a near monthly basis beginning September 2015.