Overstory raises $43M to help utilities prevent wildfires with AI: 'More resilient grid'

Overstory, an AI startup that helps utilities manage vegetation and reduce wildfire risk, has closed a $43m Series B round, bringing its total secured to $68m, according to Dealroom data.

The financing was led by Blume Equity, with participation from Energy Impact Partners and existing investors including B Capital, Semapa Next, Pale Blue Dot, CapitalT, Convective Capital, Bentley Systems, MCJ, and Moxxie Ventures.

CEO Fiona Spruill said the funding will allow the Boston and Amsterdam-based company to expand globally and enhance its AI models.

"We're grateful to our forward-thinking investors for supporting this next chapter – expanding our intelligence product to address storms and wildfires, helping utilities build a more resilient and reliable grid," said Spruill in a statement.

Wildfire intelligence

Founded in 2018, Overstory collects high-resolution satellite imagery to track vegetation near power lines. Using AI, the company identifies which trees, shrubs, or other plants could cause outages or sparks that might ignite fires. It combines this information with utility-specific data such as line locations, weather patterns, and topography to assess which areas are most at risk.

The company’s wildfire intelligence tool goes further, estimating where “fuel” is likely to contribute to a fire. This helps utilities focus maintenance on high-risk areas before a fire can start, instead of reacting after problems occur. In practice, this means crews can prioritise trimming or clearing vegetation that poses the greatest danger, potentially preventing wildfires before they ignite.

Overstory says its system updates regularly, reflecting seasonal changes, new growth, and extreme weather conditions. The approach is designed to be more precise than traditional inspection cycles or aerial surveys.

"Utilities are on the front lines of keeping communities safe, and they're eager to use the best data available,” said Spruill. “When we talk about how satellites and remote sensing can identify dying trees and wildfire risk, they lean in."

The company now serves several large American energy utilities. It employs more than 80 people in its remote-first team. Tamara Mendelsohn, formerly at Eventbrite, recently joined as COO to support scaling.