News from ClearSky

This newsletter covers new financings, key milestones, and strategic developments regarding ClearSky and our portfolio companies.

Woman working on a laptop and a man installing a solar panel

Launching Fund IV

ClearSky is excited to be launching ClearSky Fund IV, our new investment fund, which will invest primarily in venture and later stage companies, with an investment focus in the energy transition and cybersecurity sectors. Fund IV is targeting $500 million and is a continuation of the strategies that we have utilized in our first three funds over 12 years, through which we have invested $850 million into 64 companies and have exited 40.

We are excited by the market opportunity and already have a strong pipeline of deals. We are happy to chat in more detail about Fund IV and our thesis, should you have interest. Feel free to reach out to Alex Weiss, CEO & Managing Partner (alex@clear-sky.com) or Jackie de Sanctis, Head of Investor Relations (jackie@clear-sky.com).

ClearSky Supports the Launch of Clarum Advisors

In the past few months, ClearSky helped to establish Clarum Advisors alongside Jan Vrins, David Port, and David Allen. This new strategic consulting group will further deepen ClearSky’s thesis development, aid our portfolio companies’ strategy and operations, as well as provide unique insight to strategic investors. Collectively, the team has deep energy sector consulting and investing experiences, and we are excited by this new venture’s value add to our ecosystem. (Read Press Release…)

Our Recent Investments

ClearSky Participates in HUMAN Financing Led by WestCap

ClearSky participated in a WestCap led financing round in HUMAN. HUMAN provides collective protection against fraud and abuse across apps and websites, including bot fraud, account takeovers, automated account creation, and information scraping. In July 2024, Forrester named HUMAN as a leader in Bot Management Software. (Read Press Release…).

ClearSky Co-Leads Mainspring Financing Alongside Khosla Ventures

ClearSky co-led a convertible note round in Mainspring alongside Khosla Ventures. Mainspring Energy is a developer of a high-efficiency, gas-fired linear generator technology for distributed power generation. Mainspring is at the forefront of providing energy for data centers, EV infrastructure, behind-the-meter, and utility applications.

Query.AI Closes Strategic Funding from Cisco

Query.AI announced that it closed a strategic investment from Cisco. This latest funding will enable Query.AI to bolster its federated search platform for security operations.

ClearSky Participates in SCEYE Financing Led by Mawarid Holding

ClearSky participated in a Mawarid Holding led Series C financing round in SCEYE. Mawarid is a Saudi-based investment company with significant telecom infrastructure assets. SCEYE is a material science company that is developing High-Altitude Platform Systems (“HAPS”) designed for Earth observation and connectivity use cases. In October 2024, SCEYE completed the final flight of its 2024 Control Dynamics program, which accomplished the ambitious milestones of controlled relocation, full diurnal flight, and the ability to stay over an area of operation for extended periods of time. (Read Press Release…)

ClearSky Co-Leads Ubicquia Financing Alongside Hamilton Lane

ClearSky co-led a convertible note round in Ubicquia alongside Hamilton Lane. Ubicquia is a provider of a platform for smart city and small cell deployments to municipalities, utilities, telecoms, and broadband service providers. Ubicquia leverages existing infrastructure to deploy smart lighting, smart grid, and public safety products. Ubicquia is deployed in over 400 cities in the U.S., including 11 of the top 30 U.S. cities, and has several significant OEM partnerships across all its product lines.

Utility Innovation Group Closes Funding from Volvo Penta

Utility Innovation Group announced that it closed a strategic investment from Volvo Penta at an increase in valuation. This latest funding will enable Utility Innovation Group to enhance its role in the growing global market for energy infrastructure as an independent supplier of energy-dense battery energy storage systems (BESS).

Portfolio Companies in the News

AppOmni Secures Partnership with Cisco

AppOmni announced a significant partnership with Cisco that combines its Zero Trust Posture Management (ZTPM) solution with Cisco’s Security Service Edge (SSE) technology suite. This partnership will unlock zero trust principles at the application layer in security SaaS applications. (Read Press Release…).

BigID Wins Intuit Data Classification Challenge

BigID was announced the winner of Intuit’s Data Classification challenge for rapid identification of sensitive data within massive datasets. (Read Press Release…).

BigID was also recognized on the 2024 Inc 5000 list for the fourth consecutive year. (Read Press Release…).

Databricks Raises at a $62Bn Valuation Co-Led by Thrive Capital

Databricks has secured $10 billion in Series J funding at $62 billion, co-led by Thrive Capital, Andreesen Horowitz, Insights Partners, and other notable investors. This investment positions the company to surpass a $3 billion revenue run rate and achieve positive free cash flows in Q4’24. The Series J announcement immediately follows significant momentum for Databricks with 60% growth year-over-year in Q3’24. (Read Press Release…)

Fermata’s Bi-directional Charger Approved by Nissan

Fermata announced that its FE-20 bi-directional charger and V2X platform was approved by Nissan for use with the Nissan LEAF. This approval will support Fermata’s improved access to Vehicle-to-Grid (V2G) technology for Nissan dealers and fleet customers. (Read Press Release…).

Fermata was also named a finalist for the prestigious Reuters Events 2024 D.R.I.V.E Honors in the ‘Reducing Emissions’ category. (Read Press Release…).

Guardz Launches Free Community Shield Plan

Guardz launched its Community Shield Plan, a free, comprehensive cybersecurity platform tailored for MSPs to protect their internal operations. This initiative aims to bolster MSPs’ security, reflecting Guardz’s appreciation and continued support for the MSP community. (Read Press Release…).

Harness Named DevOps Leader by Gartner

Harness was named as a Leader in the 2024 Gartner Magic Quadrant for DevOps Platforms. Harness is a continuous delivery-as-a-service platform enabling engineering and DevOps teams to release applications into production. (Read Press Release…).

Mitiga Named a Finalist By SC Media

Mitiga was recognized by SC Media as one of five finalists for the 2024 Best Emerging Technology award. (Read Press Release…).

Mitiga also launched its Cloud Managed Detection & Response service, providing 24/7 protection against threats to cloud and SaaS environments. (Read Press Release…).

Noda.AI (fka Infogrid) Acquires Buildings IOT

Noda.AI acquired Buildings IOT’s adaptive buildings technology to strengthen its automated, AI powered energy offering. This strategic acquisition supports Noda.AI’s vision to optimize building operating budgets, while advancing the industry’s path to decarbonization. (Read Press Release…).

Renew Home Launches Integration with Google’s Nest Thermostat

Renew Home successfully launched the first phase of its integration with the newly released Google Nest thermostat. This integration will drive an effort to enable energy providers to operate more efficiently, while giving consumers more control and cost savings. (Read Press Release…).

Renew Home also entered a partnership with NRG Energy to create a 1 GW VPP in Texas aimed at enhancing grid resiliency and lowering household energy costs. (Read Press Release…).

Industry News

Powering AI: Data Centers and Energy’s Role

The rise of AI and digital technologies is driving surging demand for data centers, projected to consume up to 12% of U.S. electricity by 2030. Meeting this demand will require over 50 gigawatts of additional capacity and $500 billion in infrastructure investment. To support this growth sustainably, the energy sector must expand grid capacity, integrate renewables, and address infrastructure challenges, creating significant opportunities for investors.

5 Cybersecurity Priorities for The Trump Administration

The Trump administration’s cybersecurity priorities focus on fortifying critical infrastructure to defend essential services against cyber threats and fostering public-private partnerships to enhance national resilience. Addressing the cybersecurity talent gap is a key objective, with investments in workforce development and education. Additionally, advancing innovation in threat defense technologies and strengthening international collaboration aim to counter transnational cyber risks. These priorities are aimed at safeguarding national security and ensuring economic stability in an increasingly digital landscape.

June 2024 Updates

Thank you for your support and feel free to contact us.

Sincerely,
The ClearSky Team