Serra Capital III Invests In Its 25th Company Tank Utility

Champaign, IL – Tank Utility, the Boston-based company that is a leading provider of IoT tank monitoring and logistics optimization services, has raised $6 million in an oversubscribed financing round. Serra Ventures was a participant in the round. 
 
“We are thrilled to have Serra Ventures as part of this investment. They have been a valuable source of industry and product knowledge to us over the years and it’s great to make our partnership official,” said Amos Epstein, CEO of Tank Utility. “Their knowledge of our market, customers and business will be invaluable as we continue to provide innovative products and solutions that drive profitability for our customers especially in the Midwest.”
 
Karin O’Connor, Venture Partner with Serra stated, “Serra Ventures is excited to partner with Tank Utility as they kick off this next phase of the company’s growth. We have been most impressed with what Amos and his team have been able to accomplish over such a short period of time.  Clearly, they have tapped into a big pain point in the delivered fuel industry—and with a solution that drives big value for customers.”
 
About Serra Ventures
 
Serra Ventures is an early stage venture capital firm investing in technology companies across the Midwest and other underserved geographies. Sectors of focus include information technology, devices/instrumentation and agricultural technologies. The profile of an ideal startup is one that has just finished an accelerator program or has been through a round of seed funding to establish and prove a strong product-market fit. 
 
Serra Ventures, has offices in San Diego, Chicago and Champaign, Illinois. The managing partners are all former successful entrepreneurs who seek to serve their portfolio companies with real-world insight, hard work and a valuable network. In addition to capital, Serra works alongside its entrepreneurs in all areas of growth from strategic planning and partnerships, through business development and capital formation. For more information, visit www.serraventures.com. 
 
About Tank Utility

Tank Utility helps delivered fuel suppliers modernize their businesses to earn higher profit margins every year. With easy to use LTE tank monitoring devices connected with industry-leading software and analytics, Tank Utility offers real-time and actionable insight into customer propane tank levels optimizing every day operational efficiency to eliminate wasted deliveries and increase fuel drop sizes.  In addition, Tank Utility uniquely partners with fuel suppliers to improve customer engagement with a branded mobile app and value-added services that they can use to win and retain more homeowner and commercial customers while ensuring they never run out.
 
For more information, visit https://www.tankutility.com.
 

Contact Information

Karin O’Connor

Venture Partner

Serra Ventures, LLC

(1) 773-368-4852

karin@serraventures.com