Utilen has secured entry into Silicon Valley Bank’s highly-selective early-stage banking division, which works with a small group of companies expected to scale quickly. The move reflects the growing need for better coordination as the power industry enters a major cycle of infrastructure spending.

Utilen's coordination platform, which was designed specifically for the power industry, gives customers and vendors shared access to live project information. The platform uses embedded intelligence to keep data current as conditions change, rather than relying on static files passed between teams.

“Massive investments are flooding the electric utility sector at unprecedented scale, and today's commercial workflow slows stakeholders,” said Sean Dunham, CEO of Utilen. “They deserve systems that eliminate bottlenecks for transparent, faster execution."

Working with Silicon Valley Bank gives Utilen access to specialized banking support and growth infrastructure typically reserved for companies preparing to operate at a much larger scale, which helps ensure the platform can grow alongside the industry.

“This partnership strengthens our ability to scale and support the industry’s execution needs,” Dunham said.

The banking partnership comes one month after Utilen announced the closure of its seed funding round, which was backed by top industry leaders across utilities, EPCs, and manufacturing. The round supported continued product development and preparation for bringing the platform to market.

Utilen plans to launch its platform later this year.