When Yaletown and Cisco invested in Bit Stew two years ago, the focus was on confirming the platform’s effectiveness in the utility industry. In a short time, there has been a “remarkable pace of adoption” among leading North American electric, natural gas and water utilities that spurred revenue growth. Today, Bit Stew has more than 40 customers on three continents.
Bit Stew’s Series B round marks its next phase of expansion, as it seeks to broaden the scope of its customer base in North America, Europe and Australia. Bit Stew will also explore opportunities in new sectors, such as the oil and gas industry, where businesses are increasingly looking to innovation to overcome current market challenges.
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Author: PE HUB