Innovation Ventures Invests In Weather Trends International
Weather Trends International, Inc. just finished closing their Series A-1 round with the help of Innovation Ventures, L.P.
- Wilmington-Newark, DE-MD (1888PressRelease) May 10, 2011 - Innovation Ventures, LP, with offices in Wilmington, DE and Lancaster, PA, is pleased to announce an investment in Weather Trends International, Inc. Innovation Ventures participated in the Series A-1 round, and the Company intends to use the proceeds for working capital, acquisition of equipment, and sales and marketing activities.
Weather Trends International (WTI), located in Bethlehem, Pennsylvania, provides larger retailers, seasonal category suppliers and commodity/equity traders the ability to be proactive and manage their business risk when it comes to weather's influence on their global operations up to a year ahead. The alternative is to attempt to react to extremely volatile weather patterns that are statistically never the same in any given location year-after-year.
"WTI's proprietary technology is innovative and we believe it will give the company a strong competitive advantage in the long-term weather forecasting market," said David Freschman, Managing Principal at Innovation Ventures, LP. "Experience is one of the key factors we look for in a management team and they have that along with impressive algorithms and an established clientele of world renowned brands."
"The investment and creative thinking from the team at Innovation Ventures, L.P. will allow us to quickly scale our year-ahead global weather forecasting technology in the B2B sectors across new emerging markets in South America and Asia. In addition we'll be able to complete our vision of making year-ahead forecasting a trusted consumer brand with www.wt360.com", said Bill Kirk, CEO & Co-founder Weather Trends International.
About Innovations Ventures, LP
Innovation Ventures, L.P. is an SBIC venture capital fund focused on growth and early-stage investments in the areas of chemicals and materials; electronic materials; information and internet technology; e-commerce enabling technologies; and business information services related to the legal, financial services and manufacturing industries. IV invests in enterprises located primarily on the East Coast, with a particular emphasis on the Mid-Atlantic region.
About Weather Trends International, Inc.
WTI is the global leader of actionable year-ahead business weather guidance for retailers, manufacturers, pharmaceutical companies, agricultural firms, financial analysts and now consumers worldwide. Clients include some of the world's most respected and successful companies like Wal-Mart, Kohl's, Target, AutoZone, Anheuser-Busch, Johnson & Johnson, Clorox, Energizer, 3M, JP Morgan, Agway, Hershey's and over a hundred others. Its business centric weather solutions and understanding of how consumers respond to the weather is used throughout organizations to help "manage the weather risk".
Utilizing technology first developed in the early 1990s, Weather Trends International's unique statistical math based trade secret formula forecasting methodology projects temperature, precipitation and snowfall trends by day and week a year-ahead for millions of locations in all 195 countries with industry leading 80%+ accuracy. WTI is recipient of six business and technology awards including #5 on Forbes Magazine's list as America's Most Promising Company. Offices are located in Bethlehem, PA and Bentonville, AR.
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