HData has launched a new software for the utility industry. The company, which delivers software for energy regulatory compliance, has built a product that brings dashboards and predictive analytics to the fingertips of financial management and regulatory compliance personnel.
HData, which was founded in 2018 by Hudson Hollister and Yuval Lubowich, graduated from the Techstars Alabama EnergyTech Accelerator program and relocated to Birmingham in December 2021. It closed an oversubscribed $3.1 million seed investment round, led by Hyde Park Venture Partners and Firebrand Ventures.
The same month it received the seed capital, the company formed a partnership with Alabama Power that includes mentorship and sharing of industry knowledge.
“Never before has a regulated utility partnered with a RegTech startup to create new business intelligence software,” said Lubowich, HData co-founder and chief technology officer. “We had an unprecedented understanding of the way that leaders in the utilities industry work with regulatory information.”
The new platform uses regulatory data to automate compliance and business intelligence for electric utilities, gas companies and oil pipelines.
