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RainBank Inc.

Transforming stormwater management with a smart grid solution that prevents damaging floods at a fraction of the cost of current solutions.

  • Stage Full Product Ready
  • Industry Industrial/Energy
  • Location Philadelphia, PA, US
  • Currency USD
  • Founded September 2015
  • Employees 5
  • Incorporation Type C-corp
  • Website rainbankus.com

Company Summary

RainBank is revolutionizing the stormwater management sector. Its unique, patent pending, smart blue roof solution costs 90% less than current solutions and delivers far greater benefits. Licensed to stormwater engineering firms and sold as a fee-for-performance service to cities, it is a highly scalable business model with significant barriers to entry, RainBank forecasts annual revenues in excess of $85 million by 2023.

Team

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    Kevin C. Dutt
    CEO & Founder

    Mr. Dutt is a clean tech entrepreneur who has successfully launched several ventures. He has extensive expertise in leading rapid growth of operations and revenues. For the past ten years, he has worked with clean tech companies focusing on strategy, operations, and product development. He previously oversaw operations within Bayer, AMP, and International Paper. He earned his mech. engineering degree at Princeton Univ. and his MBA at Boston Univ.

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    Jack Eggleston
    CSO

    Dr. Eggleston is a water resources and technology expert, as well as entrepreneur who has led multiple companies in the water and environment arena. He brings a deep understanding of natural resources to bear in markets that are driven by government regulation and local resource scarcity. Dr. Eggleston holds a B.A. in Mathematics and Philosophy from St. John’s College and a PhD in Civil and Environmental Engineering from Duke University.

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    Andrew Gottlieb
    VP, Business Development

    Mr. Gottlieb is an expert in water project funding in government and commercial applications. As MA Chief of Commonwealth Development, he coordinated energy, housing, environmental and transportation policies. During his 16 years at the Dept of Environmental Protection, he built an innovative revolving fund into the nationally recognized model for infrastructure funding. He has a BA from Harvard University and a MBA from Boston University.

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    Douglas Foy
    Chairman of the Board

    Mr. Foy is an authority in infrastructure and smart growth. He is the Founder and President of Serrafix, a company devoted to sustainable business practices and the development of social enterprises. Mr. Foy served as the first Secretary of Commonwealth Development under MA Governor Mitt Romney. Before his service in the Romney administration, Mr. Foy served for 25 years as the President of the Conservation Law Foundation.

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    Anker Berg-Sonne
    VP, Product Development

    Mr. Berg-Sonne has extensive experience working in high growth software companies. During his career at Digital, he managed the successful commercialization of many complex products. More recently he has led the development of software development at high growth, early stage companies in areas such as smart buildings and energy demand management. Mr. Berg-Sonne earned his Computer Science degree from the University of Copenhagen, Denmark.

Advisors

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    Mark Barnett, Foley Hoag (Corporate Attorney); Cynthia Gilbert, Hyperion Law (IP Attorney)
    Lawyer
    Unconfirmed

Previous Investors

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    All investment to date by management team
    Unconfirmed