Salient Predictions Closes $5.4M Seed Round to Power Long-Range Weather Forecasts and Analytics
June 3, 2022
Funding will help scale the world’s most accurate weather prediction platform to help more organizations make better informed decisions
BOSTON, MA – June 2, 2022 - Salient Predictions, a Boston-based technology company that creates the world’s most accurate subseasonal-to-seasonal (S2S) weather forecasts and analytics, today announced the closing of a $5.4 million seed round led by Wireframe Ventures. Participating investors include Munich Re Ventures, Powerhouse Ventures, Endeavor8, First Star Ventures, and Blindspot Ventures.
“We are thrilled to have won the confidence of these important investment partners as we continue to scale Salient’s long-range forecasting and analytics platform,” said Matt Stein, CEO of Salient. “We look forward to making even greater investments in our people and our technology, which have been the key drivers of our success and what allows us to serve clients in a broad range of industries as they better prepare for the risks of climate change.”
Salient combines novel ocean and land-surface data with machine learning and climate expertise to deliver the world’s most accurate S2S weather forecasts from 2 to 52 weeks in advance. The company’s core technology evolved from decades of research at Woods Hole Oceanographic Institution and MIT, led by Co-Founder and President, Ray Schmitt. Ever since its first real-world test in 2017, the accuracy of the company’s forecasts have stunned experts.
“Salient’s technology was built upon scientific observations that others overlooked,” said Schmitt, “It’s given us an incredible advantage in how we are able to look at long-range weather. This helps us forecast further to help businesses make better decisions than ever before.”
“We’ve been truly impressed by Salient’s skill in an area of forecasting that traditionally hasn’t been much better than guesswork,” Paul Straub of Wireframe Ventures said. “It blows the game wide open and, when you look at the names of our participating investors, you get a sense of how applicable, and exciting, Salient’s technology is.”
From finance and insurance to energy, agriculture and beyond, weather has a profound effect on an organization’s ability to operate and deliver for its customers and stakeholders. Unlike other forecasting technologies, Salient provides insights and analysis on the kind of timescales that matter to business, from weeks to months and even seasons in advance. This knowledge helps Salient’s customers optimize performance, mitigate risk, improve resiliency, and plan initiatives with greater confidence.
“Climate change is making weather more severe and unstable than humans have ever seen, and the cost of getting it wrong is only going to increase,” said Stein. “That’s why investing in Salient’s technology, and hiring talented people for our team, is so important. Not just for business success, but to help society prepare and adapt to the changing world around us."