DURHAM – The Climate Service, a startup focusing on analytics and climate risk, has closed on $3.825 million in venture capital and plans to use the proceeds to expand its software program in order to meet what the firm calls “increased demand.”

TCS is one of the Triangle’s most promising tech startups, according to the “Tweener” list compiled by serial investor and entrepreneur Scot Wingo.

The Climate Service image

A screen shot of The Climate Service platform

The funding was announced Tuesday.

Investors include the Persei Venture, which led the round, along with the Association of International Certified Professional Accountants and Synovia Capital plus previous investors.

“Investors, markets, and regulators are increasingly requiring businesses to measure their exposure to climate change-related risk. As a result, we designed this fundraising round to enable TCS to respond to the demands of industries under pressure to understand, quantify, and manage climate risk,” said David Jadow of Persei Venture in a statement. “We forecast significant continued growth for TCS, and we are proud to support the company’s vision and mission to embed climate risk into global decision-making.”

TCS has developed a proprietary platform called Climanomics which the firm says  “puts a price on climate risk, enables analysis and disclosure consistent with the Task Force on Climate-Related Financial Disclosures (TCFD), a framework now supported by over 1,000 organizations globally.”

The “web-based software … empowers our customers with knowledge of what their risks are, where they are, and what trends they can anticipate over decades and across multiple scenarios so that they can manage these risks strategically,” TCS says.

“From portfolio management to due diligence to arbitrage on over/under-valued properties, the information provided by the Climanomics system enables our customers to embed climate risk into operational and strategic financial decisions.”

According to the company it has a “rapidly growing roster of customers,” including the US federal government, Fortune 500 firms and some of the “world’s largest financial institutions.”

These include some of the world’s largest financial institutions, Fortune 500 companies, and the US Federal Government.

The Climate Service appoints new chief operating officer