Overstory, a global leader in vegetation intelligence for the utility sector, has announced that it has raised $43 million in Series B funding. The latest round was led by Blume Equity, with strong participation from Energy Impact Partners LP (EIP) and returning investors such as B Capital, Semapa Next, Pale Blue Dot, CapitalT, Convective Capital, Bentley Systems, MCJ, and Moxxie Ventures. With this new capital, the company plans to accelerate the development of its AI-driven risk models, strengthen its wildfire prevention solutions, and expand its presence in international markets.
Vegetation remains the number-one cause of utility outages and wildfires, and it also represents one of the largest operating costs for utilities. However, rising tree mortality, labor shortages, growing energy demand, and increasingly severe weather events have pushed utilities to adopt new technologies to manage vegetation more precisely. Consequently, Overstory’s AI-powered satellite intelligence is becoming essential, as it helps utilities identify risks down to individual trees ultimately reducing outages, preventing wildfires, and keeping electricity safe, reliable, and cost-efficient.
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“Innovation and technology have become the pillars of progress when it comes to wildfire prevention,” said Andy Abranches, VP of Wildfire Mitigation at Pacific Gas and Electric Company (PG&E). “Satellite data, AI and the vegetation-management intelligence we get from companies like Overstory are transforming how utilities think about wildfire prevention. The details are in the data, and that precision allows us to deploy our crews where wildfire risk is greatest.”
Moreover, investors see Overstory’s approach as both economically valuable and environmentally impactful. Michelle Capiod, Co-Founding Partner at Blume Equity, emphasized: “The companies that will drive the greatest impact on our planet are those that deliver climate solutions with real economic value. Overstory exemplifies this transforming satellite data into actionable insights that help utilities both prevent climate-related disasters and drive operational efficiencies. Their customer-first approach and leadership in AI has enabled them to develop cutting-edge, yet highly practical, solutions that deliver a tangible return on investment. This is exactly the kind of scalable, high impact climate solution we’re proud to support at Blume Equity.”
The latest funding milestone comes after seven years of significant growth. Today, Overstory supports six of the ten largest utilities across the Americas. Its team has expanded to more than 80 professionals from 16 nationalities, blending expertise in machine learning, data science, arboriculture, and wildfire mitigation. The company has also appointed Tamara Mendelsohn, former Eventbrite CMO, as its new Chief Operating Officer to guide its next phase of scaling.
Commenting on the industry’s urgent need for actionable intelligence, James Sprinz, Principal at EIP, noted: “Utilities are at a pivotal moment, facing more extreme weather events every year. Overstory is tackling this challenge in a way that utilities can act on immediately, making sense of satellite data to spot the exact tree to trim, pole to clear, or asset to replace.”
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As part of its continued innovation, Overstory also unveiled the latest version of its Wildfire Intelligence product. Now powered by its proprietary, industry-first Fuel Detection Model, the system identifies high-risk vegetation and fuels most likely to ignite and cause rapid fire spread. Unlike publicly available fire maps, Overstory’s AI tools pinpoint precise locations and recommend targeted actions that deliver the greatest impact on wildfire mitigation.
Highlighting the company’s mission, Fiona Spruill, CEO of Overstory, said: “Utilities are on the front lines of keeping communities safe, and they’re eager to use the best data available. When we talk about how satellites and remote sensing can identify dying trees and wildfire risk, they lean in. We’re grateful to our forward-thinking investors for supporting this next chapter – expanding our intelligence product to address storms and wildfires, helping utilities build a more resilient and reliable grid.”
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