# Tank Utility

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tank-utility

- Industry: Software
- Headquarters: Boston, US
- Website: www.tankutility.com
- Total disclosed funding: $2.2M
- Latest round: Seed (Aug 30, 2016)
- Investors on record: 4

## About

Tank Utility, Inc., based in Boston, US, specializes in advanced tank monitoring solutions that enhance fuel management for homeowners and fuel marketers, improving efficiency and reducing delivery needs.Founded in 2014, Tank Utility, Inc. provides innovative tank monitoring technology. The company raised USD 4.85 mn in funding on December 21, 2018, led by Bullpen Capital, with participation from Array Ventures, Blue Fog Capital, Energy Foundry, Generac Power Systems, Inc., and Serra Ventures. The CEO is Amos Epstein, who co-founded the company with Kyle Murphy and Nick Mashburn.Tank Utility specializes in advanced tank monitoring solutions designed for both fuel marketers and homeowners. The core offering is its LTE monitor, which integrates with a mobile application to provide real-time alerts regarding propane tank levels. This technology enables users to manage fuel delivery more efficiently, potentially reducing the number of deliveries needed by up to 40%. Target customers include residential homeowners in need of reliable heating solutions and commercial fuel marketers aiming to optimize logistics and reduce operational costs. The company's products are primarily marketed in the United States, where there is a growing demand for efficient fuel management solutions.Tank Utility generates revenue through a subscription model centered around its tank monitoring services. Clients, which include B2B partnerships with fuel suppliers and direct-to-consumer sales to homeowners, pay for access to the LTE monitor and associated mobile app features. The company offers tiered pricing plans based on the service level required, catering to both individual homeowners and businesses managing multiple tanks. This subscription structure allows for recurring revenue, enhancing financial stability while providing ongoing value through improved fuel management capabilities across both residential and commercial sectors.In December 2018, Tank Utility, Inc. raised USD 4.85 mn in venture funding, which will be utilized to accelerate growth. The company plans to expand its product offerings and enhance its tank monitoring technology while targeting new markets and geographic regions in the United States. Specific growth strategies and timelines for product launches and market entry are yet to be disclosed, but the funding will support these initiatives.

## Funding rounds

- Seed, Aug 30, 2016, $2.2M — Generac Power Systems, Inc., Earth Foundry, Bolt, Blue Fog Capital

## Investors

- Generac Power Systems, Inc. — Seed
- Earth Foundry (https://capitalatlas.ai/funds/earth-foundry) — Seed
- Bolt (https://capitalatlas.ai/funds/bolt) — Seed
- Blue Fog Capital (https://capitalatlas.ai/funds/blue-fog-capital) — Seed