Neara Valuation, Funding & Investors
Neara is valued at $784M as of February 2026.
Last Neara valuation
$784M
Series D · Feb 2026
Last Neara funding round
$64M
Series D · Feb 2026
Cumulative funding Neara raised
$125M
across 6 funding rounds
Key investors in Neara
Square Peg Capital
Skip Capital
EQT
Partners Group
Prosus Ventures
OIF Ventures
About Neara
Neara is a Sydney-headquartered provider of 3D predictive modeling software for electric utilities. The platform simulates weather events, vegetation growth, and asset failures on overhead networks, deployed by Ausgrid and Essential Energy for risk assessment and maintenance planning.
Founded
2016
HQ
SydneyWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$784M (Feb 2026)
Neara Valuation
Neara is currently valued at $784M, based on its Series D in February 2026.
The $64M round was led by TCV, with participation from EQT, Square Peg Capital, Partners Group and Skip Capital.
Neara valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2026 | Series D | $784M |
Neara Funding History
Neara has raised a total of $125M across 6 funding rounds.
Neara's first fundraising round was a $6M Series A in April 2021. The most recent completed round was a $64M Series D in February 2026.
Neara funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2026 | Series D | TCV (lead); EQT; Square Peg Capital; Partners Group; Skip Capital | $64M | $784M | Neara is a Sydney-based company pioneering physics-enabled digital twin modeling for critical infrastructure, including power grids, energy, transport, and communications networks. Its AI and machine learning platform creates 3D models grounded in real-world physics, helping utilities like Southern California Edison, CenterPoint Energy, ESB Networks, and Scottish Power model over 15 million assets across more than 3 million kilometers of infrastructure on four continents. The technology addresses challenges like aging grids, energy transition, climate resilience, and surging AI data center power demands by optimizing capacity, managing risk, and enabling smarter investments. Neara closed an AUD 90 million (approximately USD 63-63.8 million) Series D funding round on or around February 10, 2026, led by TCV with participation from returning investors Partners Group, EQT, Square Peg Capital, and Skip Capital. This round builds on a prior AUD 45 million Series C in late 2024, bringing total funding raised to approximately AUD 180 million (USD 127-180 million equivalent). The investment achieves a post-money valuation of USD 1.1 billion (A$1.1 billion), marking Neara as Australia's latest unicorn, though one source notes over USD 700 million. Proceeds will accelerate hiring of machine learning and AI engineers, expand the international commercial footprint, particularly in North America, and enhance the platform to tackle global infrastructure crises amid AI compute energy needs. TCV's third investment in an Australian-founded tech highlights confidence in Neara's category-defining position. The round was advised by DLA Piper, valuing the company at over AUD 1 billion and supporting ambitions in energy access and data center growth. |
| Oct 2024 | Series C | EQT (lead); Square Peg Capital; Partners Group; Prosus Ventures; Skip Capital | $31M | - | Neara is a Sydney-based company providing AI-powered predictive modeling software for critical infrastructure networks, particularly utilities in the energy sector. Its physics-enabled digital twin platform enables network-wide simulations for asset management, climate resilience, vegetation management, and grid modernization, serving major utilities in Australia, the US, UK, and Europe. The company has modeled over 1.5 million square miles of electricity infrastructure and 12 million assets. Neara competes with traditional GIS providers like Esri and Bentley Systems by differentiating through AI-driven, physics-based modeling. On October 30, 2024, Neara raised $31 million (noted as USD in some sources, AUD 45 million equivalent in others) in a Series C funding round led by EQT, with participation from Partners Group, Square Peg Capital, and existing investors Skip Capital and Prosus Ventures. The valuation was undisclosed, though investors noted a significant uplift from prior rounds and high competitiveness. Funds will accelerate expansion in North America, Europe, Asia Pacific, enhance the 3D modeling platform, and extend to sectors like telecommunications and public transportation. This marks EQT's first venture growth investment in an Australia-headquartered company. Neara, founded in 2019, is not yet profitable, with a majority of this financial year's revenue expected from international markets for the first time. It counts Australian customers like Essential Energy, Ausgrid, Endeavour Energy, Powercor, and SA Power Networks, and has expanded into the US and UK. Total funding prior to this round was building on a September 2023 raise. A subsequent Series D round of AUD 90 million (USD 63.8 million) closed in February 2026, led by TCV with returning investors including EQT, Partners Group, Square Peg, and Skip Capital, achieving a $1.1 billion valuation and bringing total funds raised to approximately AUD 180 million (or $180 million USD equivalent). This later round focused on hiring AI engineers and international growth but is distinct from the queried Series C. |
| Nov 2023 | Undisclosed stage | Happenco | - | - | Happenco publicly identified Neara as one of the companies backed through its venture portfolio when announcing the deployment of its first fund. Neara develops digital-twin software used by utilities to model and manage critical infrastructure. |
| Sep 2023 | Series B | Prosus Ventures (lead); Square Peg Capital; Skip Capital | $10M | - | Neara is a Sydney-based AI-powered infrastructure modeling platform that creates 3D, network-wide models for engineering-grade simulations and analytics to help utilities mitigate climate risks, integrate renewable energy, and strengthen grids. The company provides a System of Enablement for holistic, system-wide decisions in the energy transition. In September 2023, Neara closed a $10 million Series B extension round led by Prosus Ventures, supported by existing investors Skip Capital and Square Peg Capital, bringing total Series B funding to $24 million. The investment accelerates global expansion, development of AI capabilities for natural disaster mitigation and clean energy integration, and enhancement of the System of Enablement platform. This extension follows a prior $20 million Series B in 2022 and an initial raise in 2021, with total funds raised reaching approximately $45 million at that time. Neara has seen rapid adoption of its technology in Australia, Europe, and the U.S., driven by the need to replace coal power with renewables and address extended coal plant lifespans. |
| May 2022 | Series B | Skip Capital (lead); Square Peg Capital; OIF Ventures | $14M | - | Neara raised A$20 million in its Series B funding round on May 26, 2022, with participation from OIF Ventures, Skip Capital, Square Peg Capital, and founders from SafetyCulture and Canva. The company develops physics-enabled digital twin modeling for critical infrastructure assets at network scale, enabling scenario analysis for risk assessment, network optimization, resiliency, climate impact mitigation, automation of manual processes, and efficient capital deployment. Neara serves every electricity distributor in NSW and Victoria, covering over half of Australia's electric utilities network length, with nearly 100% conversion of non-ARR customers to ARR within 12 months and substantial revenue expansion from enterprise customers over three years. |
| Apr 2021 | Series A | OIF Ventures (lead); Square Peg Capital (lead); Skip Capital | $6M | - | - |
Who has invested in Neara?
8 investors have backed Neara across its funding rounds, including Square Peg Capital, Skip Capital, EQT, Partners Group, Prosus Ventures and OIF Ventures.
Lead investors include TCV, EQT, Prosus Ventures, Skip Capital, OIF Ventures and 1 other investor.
Neara Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Sydney | 5 | Lead | Apr 2021 | |
| Sydney | 5 | Lead | Apr 2021 | |
 Stockholm | 2 | Lead | Oct 2024 | |
 Switzerland | 2 | Participant | Oct 2024 | |
| Sydney | 2 | Lead | Apr 2021 | |
 Amsterdam | 2 | Lead | Sep 2023 | |
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Start Free TrialNeara Competitors
Neara competitors include listed companies like Zhejiang Netsun and MBB, and private ones like Pano, Sitetracker, Delta Energy & Communications and Geminus AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 United States | Private | $100M | - | $250M | 2.5x | |
| Montclair, NJ | Private | - | - | $186M | - | |
| Los Angeles, CA | Private | - | - | $94M | - | |
| Boston, MA | Private | - | - | $63M | - | |
 China | Publicly listed | $79M | ($2M) | $609M | - | |
 Germany | Publicly listed | $1.3B | $239M | $1B | 0.5x |
Neara Public Comps
Neara is still privately-owned, but its public comps include Pason Systems, PSI Software, ERock, Zhejiang Netsun, Chrysos Corp., MBB, Hansen Technologies, Flotek Industries, Hanyang Eng and Energy One.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $300M | $93M | 2.6x | 2.5x | 8.3x | 6.8x | |||
| $328M | ($7M) | 2.7x | 2.5x | (128.2x) | 51.2x | |||
| $183M | ($50M) | 1.3x | - | (4.8x) | - | |||
| $79M | ($2M) | 7.2x | - | (281.2x) | - | |||
| $63M | $19M | 9.1x | 8.7x | 29.7x | 27.1x | |||
| $1.3B | $239M | 0.5x | 0.5x | 2.9x | 2.7x | |||
| $275M | $52M | 1.8x | 1.8x | 9.3x | 5.9x | |||
| $237M | $25M | 5.0x | 3.7x | 46.8x | 24.8x | |||
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Common questions about Neara
| When was Neara founded? | Neara was founded in 2016. |
| Where is Neara headquartered? | Neara is headquartered in Sydney, Australia. |
| Is Neara publicly listed? | No, Neara is a private, VC-backed company. |
| What is Neara's valuation? | Neara was last valued at $784M in its Series D in February 2026. |
| How much funding has Neara raised? | Neara has raised $125M across 6 funding rounds. |
| What was Neara's last funding round? | Neara's last funding round was a $64M Series D in February 2026, led by TCV. |
| Who are Neara's investors? | Neara's investors include Square Peg Capital, Skip Capital, EQT, Partners Group, OIF Ventures, Prosus Ventures, TCV and Happenco. |
| Which companies are comparable to Neara? | Companies comparable to Neara include Pano, Sitetracker, Delta Energy & Communications, Geminus AI, Zhejiang Netsun and MBB. |
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