Foley Hoag LLP represented Tank Utility, a provider of IoT tank monitoring and logistics optimization services, in a financing round led by Bullpen Capital. Seed investors Energy Foundry, Blue Fog Capital and Generac also participated, along with new investors Serra Ventures and Array Ventures. Tank Utility will use the funding to accelerate company growth.
Boston-based Tank Utility provides remote monitoring devices and logistics intelligence software that gives fuel providers a real-time view into the tank level for their customers. With this level of insight, fuel providers are able to eliminate logistics costs and improve customer sentiment by providing just-in-time fuel delivery.
Foley Hoag partner Mark Haddad, Sara Mattern and Anna Snook represented Tank Utility in the transaction.