SkySpecs Valuation, Funding & Investors
SkySpecs is valued at $265M as of March 2025.
Last SkySpecs valuation
$265M
Undisclosed stage · Mar 2025
Last SkySpecs funding round
$20M
Undisclosed stage · Mar 2025
Cumulative funding SkySpecs raised
$139M
across 7 funding rounds
Key investors in SkySpecs
Statkraft Ventures
Venture Investors
Equinor Ventures
Michigan Angel Fund
Huron River Ventures
UL Ventures
About SkySpecs
SkySpecs is an Iowa-headquartered renewable energy software firm specializing in wind turbine inspections. The company uses drones and AI for blade analysis, serving operators like NextEra Energy across North America and Europe. SkySpecs processes imagery data for defect detection, integrating with SCADA systems for asset performance optimization.
Founded
2012
HQ
Ann Arbor, MIWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$265M (Mar 2025)
SkySpecs Valuation
SkySpecs is currently valued at $265M, based on its undisclosed-stage round in March 2025.
The $20M round was led by Goldman Sachs Asset Management, with participation from Equinor Ventures and Statkraft Ventures.
SkySpecs valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2025 | Undisclosed stage | $265M |
SkySpecs Funding History
SkySpecs has raised a total of $139M across 7 funding rounds.
SkySpecs' first fundraising round was a $500K seed round in November 2014. The most recent completed round was a $20M undisclosed-stage round in March 2025.
SkySpecs funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | Undisclosed stage | Goldman Sachs Asset Management (lead); Equinor Ventures; Statkraft Ventures | $20M | $265M | SkySpecs is a global leader in renewable energy asset health management, specializing in autonomous drone inspections for onshore and offshore wind turbines, tech-enabled software solutions for blade and drivetrain monitoring, and integration of data from inspections, SCADA, CMS, and financial sources to provide predictive maintenance, risk reduction, and performance optimization for wind farm owners and operators. The company, based in Ann Arbor, Michigan, serves 125 global customers and has inspected over 270,000 turbines, leveraging a vast blade data repository, industry expertise, and a fleet of autonomous drones to deliver data-driven insights that enhance profitability and cut maintenance costs. On March 19, 2025, SkySpecs raised $20 million in a strategic growth capital round led by Goldman Sachs Alternatives (part of Goldman Sachs Asset Management), with participation from Equinor Ventures and Statkraft Ventures. The funding, announced following a strong 2024 with record drone inspections, launch of autonomous drone tech for blade inspections, robust software adoption, and strategic acquisitions in performance monitoring, condition monitoring, and financial analytics, aims to accelerate cutting-edge technology development, expand global scalability, and reinforce market leadership in renewable energy O&M solutions. This round builds on prior fundraising, including an $80 million Series D in May 2022 also led by Goldman Sachs, bringing total funding to $141.3 million. As of March 16, 2025, SkySpecs held a valuation of $265 million. |
| May 2022 | Series D | Goldman Sachs Asset Management (lead); NextEra Energy Resources; Huron River Ventures; Evergy Ventures; Equinor Ventures; Statkraft Ventures; UL Ventures | $80M | - | SkySpecs, founded in 2012 and based in Ann Arbor, Michigan, provides data and analytics solutions using drones and AI for renewable energy asset owners, focusing on wind turbine blade inspections to improve productivity, predict failures, prioritize repairs, and extend asset life. The company monitors about 45% of North American wind turbine blades and manages approximately 118 gigawatts of renewable energy assets across over 30 countries. In May 2022, SkySpecs raised $80 million in a Series D strategic capital round led by Goldman Sachs Asset Management's Sustainable Financing business, with participation from NextEra Energy Resources, Statkraft Ventures, Equinor Ventures, Evergy Ventures, UL Ventures, and Huron River Ventures. Proceeds were allocated to expand operations and maintenance data collection, analytics software offerings, and geographic footprint. SkySpecs positions itself as a leader in preventative maintenance for aging renewable fleets, serving major asset owners and aiming to enhance efficiency amid growing wind energy adoption in the U.S., where it has inspected over 300,000 blades since inception. |
| Mar 2021 | Series A | - | $10M | - | SkySpecs raised $10.2 million in March 2021 as part of its funding history. The company specializes in autonomous drone inspections and software solutions for renewable energy asset management, particularly focused on wind turbine inspection and maintenance optimization. Based on available funding history, SkySpecs has completed multiple rounds of venture capital financing across its lifecycle as a renewable energy technology company. |
| Dec 2019 | Series C | McRock Capital (lead); Michigan Angel Fund; Capital Midwest Fund; Evergy Ventures; Equinor Ventures; Venture Investors; Statkraft Ventures; UL Ventures; Bossa Invest | $17M | - | SkySpecs, an Ann Arbor-based provider of operations and maintenance solutions for the wind energy industry, closed a $17 million Series C funding round on December 20, 2019, led by McRock Capital. New investors included Equinor Energy Ventures, Evergy Ventures, and Westar Energy, with participation from existing investors such as Statkraft Ventures, UL Ventures, Capital Midwest Fund, and Venture Investors. The round brought the company's total funding to $29 million following an $8 million Series B in January 2018. SkySpecs automates wind energy asset operations and maintenance using robotics, predictive analytics software, AI, machine learning, and industry expertise. In the year leading to the round, the company tripled its staff, expanded its solutions for the wind industry, and completed 30,000 fully autonomous inspections. The funding supports doubling the team in the US and Europe, enhancing the Horizon asset management platform for smart repair planning, and expanding global autonomous turbine inspections. SkySpecs focuses on data-driven decision-making to optimize turbine health, enabling proactive repairs and planning in the renewables sector. |
| Jan 2018 | Series B | Statkraft Ventures (lead); Michigan Angel Fund; Capital Midwest Fund; Huron River Ventures; Endeavor Catalyst; Venture Investors; UL Ventures; Bossa Invest | $8M | - | SkySpecs is a US-based infrastructure inspection company founded in 2012 that specializes in quality and safety inspections at offshore wind turbines using drones to reduce maintenance time and costs compared to manual methods. The company conducted 3,600 turbine inspections in the US and Europe during 2017. In January 2018, SkySpecs closed an $8 million Series B round led by Statkraft Ventures, with participation from UL Ventures, Capital Midwest Fund, Venture Investors, Huron River Ventures, and other existing investors, bringing total disclosed funding to approximately $12.6 million including prior debt. The proceeds were earmarked to enhance inspection software and expand into international markets. This followed a $3.7 million round in 2015 led by Venture Investors. |
| Nov 2015 | Series A | Venture Investors (lead); Michigan Angel Fund; InvestMichigan; Huron River Ventures; The Amherst Fund | $3M | - | SkySpecs raised $3 million in a Series A round on November 9, 2015, led by Venture Investors with participation from Huron River Ventures, Amherst Fund, Michigan Angel Fund, and Invest Michigan. The company develops drone collision avoidance technology and an automated drone infrastructure inspection platform focused on industrial inspections, starting with wind turbines and expanding to cell towers, bridges, and sewers. Funds were allocated to launch automated drone inspection services, grow the team, build field operations, and develop next-generation autonomous drone software. |
| Nov 2014 | Seed | Ann Arbor SPARK; Techstars; R/GA Accelerator | $500K | - | - |
Who has invested in SkySpecs?
18 investors have backed SkySpecs across its funding rounds, including Statkraft Ventures, Venture Investors, Equinor Ventures, Michigan Angel Fund, Huron River Ventures and UL Ventures.
Lead investors include Goldman Sachs Asset Management, McRock Capital, Statkraft Ventures and Venture Investors.
SkySpecs Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Düsseldorf | 4 | Lead | Jan 2018 | |
| Ann Arbor, MI | 3 | Participant | Nov 2015 | |
| Ann Arbor, MI | 3 | Participant | Nov 2015 | |
 Stavanger | 3 | Participant | Dec 2019 | |
| Madison, WI | 3 | Lead | Nov 2015 | |
| Chicago, IL | 3 | Participant | Jan 2018 | |
| Milwaukee, WI | 2 | Participant | Jan 2018 | |
| Kansas City, MO | 2 | Participant | Dec 2019 | |
| New York City, NY | 2 | Lead | May 2022 | |
 São Paulo | 2 | Participant | Jan 2018 | |
| Detroit, MI | 1 | Participant | Nov 2015 | |
| Ann Arbor, MI | 1 | Participant | Nov 2014 | |
| New York City, NY | 1 | Participant | May 2022 | |
This data is available for Pro users. Sign up to see all 18 SkySpecs investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by SkySpecs
SkySpecs has acquired 3 companies to date.
Last acquisition by SkySpecs was on May 19th 2023. SkySpecs acquired i4SEE TECH for undisclosed valuation.
Latest Acquisitions by SkySpecs
| Description | i4SEE TECH is a provider of augmented intelligence software that predicts wind turbine failures using sensor and operational data. Wind farm operators receive early warnings on component issues like gearboxes and blades, minimizing downtime and cutting energy costs. The platform analyzes historical performance from thousands of turbines to enable proactive maintenance schedules. Focused on renewables, i4SEE TECH drives efficiency gains for European wind energy projects through its cloud-based prediction engine. | Fincovi is a software provider equipping renewable energy firms with financial management, compliance, and analytics tools via hosted platforms and open ecosystems. London-based, it optimizes portfolio valuation for solar, wind, and storage assets through automated reporting and investor portals. | Vertikal AI is a Denmark-headquartered industrial AI firm focused on predictive maintenance software for wind turbines and heavy assets. Vejle-based since 2018, its platform analyzes sensor data to forecast failures, optimizing uptime for renewable energy operators. Vertikal AI integrates with SCADA systems and serves clients in the offshore wind sector across Europe. |
| HQ Country |  |  |  |
| HQ City | Graz | Athlone | Vejle |
| Deal Date | 19 May 2023 | 17 May 2021 | 17 May 2021 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all SkySpecs acquisitions and their M&A valuation multiples. Start Free Trial | |||
SkySpecs Competitors
SkySpecs competitors include listed companies like Polaris Holdings and SmartCraft, and private ones like Squint, Solinftec, RootCloud and aPriori Technologies.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $167M | - | $265M | 1.6x | |
| Araçatuba | Private | $60M | - | $270M | 4.5x | |
 Guangzhou | Private | - | - | $275M | - | |
| Boston, MA | Private | - | - | $280M | - | |
 Japan | Publicly listed | $312M | $45M | $283M | 1.3x | |
| Norway | Publicly listed | $54M | $17M | $234M | 3.8x |
SkySpecs Public Comps
SkySpecs is still privately-owned, but its public comps include Edisun Power, Primeton Information Tech, Netcad, Alfa Solar, EnviTec Biogas, Smart Gunes Enerjisi Tek, Cloud Live Technology, ALTEO Energy Services, Ecoener and Polaris Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $17M | $7M | 32.6x | - | 77.8x | - | |||
| $51M | $874K | 4.3x | 2.7x | 248.2x | (3533.0x) | |||
| $23M | $14M | 11.6x | - | 19.8x | - | |||
| $169M | $10M | 1.7x | - | 30.6x | - | |||
| $384M | $69M | 1.1x | - | 6.4x | - | |||
| $217M | $49M | 2.3x | - | 10.3x | - | |||
| $50M | ($11M) | 5.9x | - | (25.8x) | - | |||
| $390M | $59M | 1.0x | 1.3x | 6.9x | 6.9x | |||
This data is available for Pro users. Sign up to see all SkySpecs competitors and their valuation data. Start Free Trial | ||||||||
Common questions about SkySpecs
| When was SkySpecs founded? | SkySpecs was founded in 2012. |
| Where is SkySpecs headquartered? | SkySpecs is headquartered in Ann Arbor, MI, United States. |
| Is SkySpecs publicly listed? | No, SkySpecs is a private, VC-backed company. |
| What is SkySpecs' valuation? | SkySpecs was last valued at $265M in its undisclosed-stage round in March 2025. |
| How much funding has SkySpecs raised? | SkySpecs has raised $139M across 7 funding rounds. |
| What was SkySpecs' last funding round? | SkySpecs' last funding round was a $20M undisclosed-stage round in March 2025, led by Goldman Sachs Asset Management. |
| Who are SkySpecs' investors? | SkySpecs' investors include Statkraft Ventures, Michigan Angel Fund, Huron River Ventures, Equinor Ventures, Venture Investors, UL Ventures, Capital Midwest Fund, Evergy Ventures, Goldman Sachs Asset Management, Bossa Invest and 8 others. |
| Which companies are comparable to SkySpecs? | Companies comparable to SkySpecs include Squint, Solinftec, RootCloud, aPriori Technologies, Polaris Holdings and SmartCraft. |
| How many companies has SkySpecs acquired? | SkySpecs has acquired 3 companies, including i4SEE TECH, Fincovi and Vertikal AI. |
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