Imubit Overview
Imubit specializes in AI process optimization for refineries and chemical plants with its Closed Loop Neural Network Platform. This platform is adept at maximizing profit while efficiently managing energy, safety, and sustainability in these industries. It leverages a variety of plant data sources, utilizing deep learning AI models trained on historical data to identify and exploit dynamic process relationships. Imubit offers AI optimization solutions tailored for a variety of industries in the petrochemical sector, including Refineries, Gas Processing & NGLs (Natural Gas Liquids), LNG (Liquefied Natural Gas), Olefins, Polymers, Renewable Fuels, and Ammonia Complexes.
Cumulative Funding Raised Over Time ($)
$30.0MAug 2021
$32.3MDec 2016
$32.3MFeb 2016
$50.0MMar 2019
$50.0MMar 2023
Latest News
growth-positive
Imubit Appoints New Vice Presidents to Foster Global Sales and Customer Success
Imubit has appointed Kelly Harred as vice president of customer success and Roland Schneefuss as vice president and head of global sales. The appointments are expected to foster global sales and customer success for the company. Harred will lead her team to ensure clients are successful in accelerating, maximizing, and sustaining value through Imubits technology and services solutions. Schneefuss will be responsible for revenue growth and go-to-market strategies. Imubit is the leading provider of AI process optimization for refiners and chemical operators.
Management Changes
growth-positive
Imubit announces arrival with $50 million in total funding for AI process optimization platform
Israeli startup Imubit has raised $30 million in a Series B funding round, bringing its total funding to $50 million. The company provides an AI process optimization platform for refiners and chemical operators. The platform interconnects various processing units and aligns planning, economics, process engineering, process control, and operations for closed loop optimization. Imubit was founded in 2016 by Gil and Nadav Cohen and Meir Tseitlin. Its solution is used by several Fortune 500 companies, and one major operator reported a $10 million per year incremental margin improvement from using Imubits platform. The funding round was led by Zeev Ventures and Insight Partners, with participation from Spider Capital and Upwest Labs.
Investment
| Sector | Industrial Technologies |
Funding
| Total funding | $50M |
| Last funding | Undisclosed |
| Stage | B |
| Rounds | 5 |
| Investors | 10 |
Team Members
4
Employees: 51-200
Web & Social Links
| Website | imubit.com |
| Careers | Careers page |
Locations
HaGanan Street, Modi'in-Maccabim-Re'ut, Israel
1360 Post Oak Blvd Suite 2300, Houston, TX 77056, USA
Photos & Videos
No files yet
Imubit Business
Business models
B2B
Product stage
Released
Employees
51-200
Sector
Industrial TechnologiesOperational Optimization SolutionsTarget Customer
Energy, Utilities & Waste ManagementNew FuelsHydrogenFossil FuelsOilUtilitiesGas UtilitiesElectricityIndustrial ManufacturingProcess IndustriesChemicals & PetrochemicalsPlasticsCore Technology
Artificial IntelligenceDeep LearningMachine LearningTags (11)
alternative-fuelsiotcloud-basedpredictive-analyticsindustry-4.0operations-optimizationmanufacturing-facilitiesmachine-learningdeep-learningnatural-gashydrogenSolutions
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{"title":"Renewable Fuels","description":"Imubit's AI Process Optimization platform helps renewable fuel producers maximize profitability by increasing yield, improving product quality, and reducing energy consumption through real-time, AI-driven control and optimization of complex production processes.","items":[{"name":"Revenue Growth","value":4,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Operational Efficiency","value":5,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Disruptive / Paradigm-Shifting","content":"Revolutionary, industry-leading change that sets new benchmarks and norms."}},{"name":"Customer Acquisition","value":2,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Marginal / Localized","content":"Small, isolated improvement; measurable but not substantial."}},{"name":"Risk Mitigation","value":2,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Marginal / Localized","content":"Small, isolated improvement; measurable but not substantial."}},{"name":"Talent Development","value":1,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Negligible / Incidental","content":"No discernible or only trivial positive effect; status-quo unchanged."}},{"name":"Agility & Innovation","value":4,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}}]}
{"title":"Gas Processing","description":"Imubit's AI Process Optimization platform uses AI-driven closed-loop control to optimize gas processing and NGL plants, increasing recovery and throughput while reducing energy consumption and emissions.","items":[{"name":"Revenue Growth","value":4,"titleTooltip":"Revenue Growth & Profitability","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Operational Efficiency","value":4,"titleTooltip":"Operational Excellence & Efficiency","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}},{"name":"Customer Acquisition","value":3,"titleTooltip":"Customer Acquisition, Satisfaction & Loyalty","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Risk Mitigation","value":3,"titleTooltip":"Risk Mitigation & Business Resilience","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Talent Development","value":3,"titleTooltip":"Talent Development & Employee Empowerment","meterTooltip":{"title":"Substantial / Core","content":"Clear, significant contribution; broad, tangible gains."}},{"name":"Agility & Innovation","value":4,"titleTooltip":"Strategic Agility & Innovation","meterTooltip":{"title":"Transformative / Strategic","content":"Fundamental, high-value enhancement with far-reaching strategic importance."}}]}
Use Cases
Oil Refinery Renewable FulesGas ProcessingGeographic Markets
IsraelUnited StatesImubit Financials
$50M
Total funding
Undisclosed
Capital raised
Undisclosed
Last funding
B
Funding stage
5
Total rounds
10
Investors
Cumulative Funding Raised Over Time ($)
$30.0MAug 2021
$32.3MDec 2016
$32.3MFeb 2016
$50.0MMar 2019
$50.0MMar 2023
Private Equity Funding
Undisclosed Round
Mar 2023
Undisclosed
Lumir Ventures
B Round
Aug 2021
$30M
Oren Zeev (Lead)
,
Insight Partners, UpWest, Spider Capital
A Round
Mar 2019
$17.7M
Spider Capital (Lead)
Seed
Dec 2016
$2.3M
Cognite ventures, Green Bay Ventures, Gil Dibner, Bouaziz & Partners
Undisclosed Round
Feb 2016
Undisclosed
Philippe Suchett
Imubit Lifecycle
Cumulative Funding Raised Over Time
$30.0MAug 2021
$32.3MDec 2016
$32.3MFeb 2016
$50.0MMar 2019
$50.0MMar 2023
All Events
Undisclosed Round
Mar 2023
Undisclosed
Lumir Ventures
B Round
Aug 2021
$30M
Oren Zeev (Lead)
,
Insight Partners, UpWest, Spider Capital
A Round
Mar 2019
$17.7M
Spider Capital (Lead)
Seed
Dec 2016
$2.3M
Cognite ventures, Green Bay Ventures, Gil Dibner, Bouaziz & Partners
Undisclosed Round
Feb 2016
Undisclosed
Philippe Suchett
Imubit News
2 articles
growth-positive
Imubit Appoints New Vice Presidents to Foster Global Sales and Customer Success
Imubit has appointed Kelly Harred as vice president of customer success and Roland Schneefuss as vice president and head of global sales. The appointments are expected to foster global sales and customer success for the company. Harred will lead her team to ensure clients are successful in accelerating, maximizing, and sustaining value through Imubits technology and services solutions. Schneefuss will be responsible for revenue growth and go-to-market strategies. Imubit is the leading provider of AI process optimization for refiners and chemical operators.
Management Changes
growth-positive
Imubit announces arrival with $50 million in total funding for AI process optimization platform
Israeli startup Imubit has raised $30 million in a Series B funding round, bringing its total funding to $50 million. The company provides an AI process optimization platform for refiners and chemical operators. The platform interconnects various processing units and aligns planning, economics, process engineering, process control, and operations for closed loop optimization. Imubit was founded in 2016 by Gil and Nadav Cohen and Meir Tseitlin. Its solution is used by several Fortune 500 companies, and one major operator reported a $10 million per year incremental margin improvement from using Imubits platform. The funding round was led by Zeev Ventures and Insight Partners, with participation from Spider Capital and Upwest Labs.
Investment
Imubit Team
Employee Info
| Employees (range) | 51-200 |
| Exact count | 186 |
| Team members | 4 |
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Imubit Internal
Recent Updates
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Admin Info
| Confidence | 97/100 |
| Missing | video or image, markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 515409811 |
| Crunchbase | imubit |
| Creator | Rachel Wain |
| Creator email | rachelwain18@gmail.com |
| Last updater | Maor Perlov |
| Updater email | maor.perlov@sncentral.org |
| Last update | 2024-01-09T00:00:00.000Z |
| Created | 2015-09-06T00:00:00.000Z |
| Claimed | Yes |