With energy consumption a growing concern, seasoned technology entrepreneur Sanjoy Malik quickly recognized the potential to build a business around the intersection of big data and energy.
In 2010, he made that concept a reality and launched Urjanet – an energy intelligence firm developed in partnership with the Georgia Institute of Technology. The recent ATDC graduate company provides clients with an automated platform that collects and analyzes energy and carbon-related data from various sources. The information is then crunched and delivered directly to customer applications and support systems.
With industry regulations and energy prices on the rise, Malik said Urjanet’s subscription-based technology can ultimately help organizations better manage energy use, save money and meet sustainability goals.
“Our cloud-based platform collects energy-related data from thousands of different utilities and sources,” said Malik. “By bringing utility data in a single format directly into other software, such as accounting programs or energy management applications, companies are able to make more informed decisions. There is nothing else like it (on the market) right now.”
The company works with approximately 30 customers, mostly large blue-chip clients and corporations including UPS, Kimberly-Clark Corporation, Cox Enterprises and Chick-fil-A. As Urjanet’s reputation has grown, revenue and staff size have increased accordingly, with a team of 45 people now operating out of the U.S. and India. Currently headquartered in Technology Square, the company is set to move into a larger space in Atlanta to accommodate the growth.
Armed with more than $8 million in funding from Imlay Investments, Grotech Ventures, the National Science Foundation and the Georgia Research Alliance, Urjanet is focused on expanding sales and marketing efforts both locally and abroad. At the same time, they will continue to make software improvements to keep pace with changing technology.
Malik – who also founded ATDC graduates Air2Web and Synchrologic – said the incubator’s resources have played a role in Urjanet’s success, providing the startup with crucial connections and mentors along the way.
“ATDC provides a great environment for early-stage companies,” Malik said. “They have very flexible terms on real estate and a very knowledgeable group of people. It provides a lot of credibility to any young company.”
Urjanet At a Glance
- Founded: 2010
- Co-Founder, Chairman & CEO: Sanjoy Malik
- Headquarters: Atlanta, GA
- Specialty: Energy Information
- Website: www.urjanet.com/