Operant Networks raises $3.8M in funding led by Constellation Technology Ventures
Operant Networks, emerges from stealth raising $3.8M in Seed funding led by Constellation Technology Ventures, to simplify networking and cybersecurity for the energy edge.
Santa Rosa, CA – Operant Networks is setting the standard for secure machine-to-machine communications. Today at RE+, the largest and most comprehensive event in North America for the clean energy industry, Operant announced it raised a $3.8M round of seed-funding led by Constellation Technology Ventures, with participation from Thin Line Capital and Marin Sonoma Impact Ventures. This investment builds upon Operant’s commercial success, having already deployed their networking and cybersecurity solutions to over 3GW of critical infrastructure in the energy sector.
Responding to the essential fight against climate change, ‘Electrify Everything’ represents the transition to a decentralized and highly distributed electric grid, comprised of solar, wind, batteries, and EV charging. This dispersive shift creates massive networking complexity and cybersecurity vulnerabilities. Due the sheer volume of devices often communicating over the internet, traditional approaches are not able to address the requirements with affordable technical staffing levels.
Operant’s founders leveraged decades of experience building category-defining products in both the solar and telecommunications fields. The company chose to target this emerging challenge, facilitating a smooth transition to renewables while defending our national security. Others are beginning to take notice. Last year a report published by the U.S. Department of Energy, referred to Operant’s core technology as potentially “game-changing” in the category of cybersecurity solutions enabling the transition to a carbon-free electric grid.
Constellation Energy, Operant’s lead investors and the nation’s largest provider of clean energy, has been working closely with Operant. “Backed by their extensive industry experience and market expertise, Operant Networks is poised to play a key role in advancing resilient communications, networking and cybersecurity in an evolving energy landscape,” said Jorge Acevedo, SVP, Commercialization & Development, Constellation. “We look forward to our collaboration with the Operant team as they advance their mission and develop their product offerings.”
Expert at leading customer facing teams at multiple renewable energy companies, Operant Networks CEO, Keith Rose, is positioning the company to become the communications standard for the industry. “Our team has been involved in bringing groundbreaking products to the solar industry for over a decade. With Operant, not only are we trying to further advance the industry with innovative technology, but we also feel a strong sense of duty to align stakeholders in protecting the grid from the growing threat of cyber-attacks.”
Aaron Fyke, Managing Director of Thin Line Capital, a seed-stage venture capital firm focusing on energy and sustainability, participated in Operant’s funding round stating, “We are extremely excited to partner with Operant Networks. The electricity grid is changing and needs to accommodate the millions of solar, energy storage, and EV charger installations which will soon be commonplace on the grid. We see Operant Networks as the company which can provide the communications and network security required for this transformation."
Though Operant views the energy sector as core to their business and a beachhead market, it is not the end game. “We hear similar pain-points from customers connecting to industrial field equipment, regardless of asset type or industry. Traditional solutions force customers to choose between reliability, security, and cost. The inevitable result is poorly performing projects, and inflated network and cyber response teams struggling to keep up.” states Rose.
Operant addresses these issues with their integrated networking and cybersecurity software, by reducing both complexity and cost. Modernization trends in operational technology (OT) systems include the deployment of sensors and IoT-like devices to collect data and perform machine learning. With their technology and experience, the team at Operant is confident in their ability to assist customers like Constellation in achieving their operational goals, without having to make sacrifices.
Operant will be exhibiting their solutions at the RE+ event in Anaheim, CA Sept 20-22 at booth number 2285.
For more information on Operant: [email protected]
Operant Networks is the leading provider of machine-to-machine communications using a novel networking technology that provides intelligence and security on data packets. Founded in 2016, Operant has been developing their solutions with funding from the Department of Energy and U.S. Air Force. Operant, headquartered in Santa Rosa, California, has participated in a number of technology startup programs including Alchemist Accelerator, CleanTech Open, and Creative Destructive Labs.
Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar facilities has the generating capacity to power approximately 20 million homes, providing 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG.
About Thin Line Capital
Thin Line Capital is a seed-stage energy/sustainability venture capital firm started by serial entrepreneur, Aaron Fyke, as part of the Wavemaker family of funds. With explosive growth of renewable energy, electric vehicles, and technologies to help society manage the effects of climate change, Thin Line Capital is focused on investing in the early-stage companies that will lead this unprecedented transformation.
About Marin Sonoma Impact Ventures (MSIV)
MSIV is the first regional venture capital fund backing entrepreneurs building category-defining enterprises across the North Bay Area's Marin and Sonoma counties. Prominent North Bay CEOs, professional investors, local philanthropists, and serial startup founders have united behind MSIV's mission of helping local teams on their journey to build the next great North Bay company. In addition to providing capital, MSIV is harnessing the region's intellectual capital behind its all-local portfolio. More info can be found at msivfund.com.