First Street Technology Secures $33.5 Million Funding for Climate Risk Modeling Software

First Street Technology Secures $33.5 Million Funding for Climate Risk Modeling Software

Brooklyn-based research and technology firm, First Street Technology, has recently secured $33.5 million in a venture round, as per their recent Form D filing with the SEC. Although the identities of the lead and additional investors remain undisclosed, the substantial amount raised underscores the industry’s confidence in First Street’s innovative approach to understanding and mitigating climate risks.

Founded by Matthew Eby, First Street has been distinguishing itself by developing advanced software tools offering detailed insights into the physical climate risks associated with properties. This influx of funding is expected to enhance their platform’s capabilities, positioning First Street for further growth in a market increasingly focused on climate resilience.

The company’s trajectory and the investors’ confidence reflect a growing acknowledgment of the critical need for accurate climate risk modeling in real estate. First Street Technology’s ongoing advancement in this sector has the potential to significantly influence sustainable investment and development strategies, emphasizing the importance of integrating climate risk assessment into property evaluation processes.

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