AiDash, a San Francisco-based enterprise software-as-a-service company announces the launch of its first employee stock ownership plan (Esop) buyback program.

The company makes critical infrastructure industries climate-resilient and sustainable with satellites and artificial intelligence (AI), according to reports.

This comes after the company recently closed its Series C funding round with an oversubscription of $ 58.5 million (about Rs. 487 million), taking the total funds raised to $ 91.5 million.

The new share buyback plan applies to existing full-time employees who have been with the company for three years or more, and they can cash out their stock holdings to realize the value accumulated over time.

“Our growth is a testimony of the hard work demonstrated by our team members. We have always been an employee-centric company that believes in giving a strong sense of ownership” says CEO Abhishek Singh.

ESOPs have proven to be a successful compensation tool and a way to attract and retain talent for leading technology companies. With its recent investment in AiDash, the company plans to grow by continuing to expand its products and services and attract new talent.

“Our employees are the driving force behind our success. This buyback underscores our commitment to rewarding our team and nurturing a culture of growth within the organization," says chief product and technology officer Rahul Saxena.

The company has raised $50 million in an oversubscribed Series C funding round led by Lightrock recently. The company leverages satellites and AI technology to help critical infrastructure industries remain climate-resilient and sustainable amid hazards like storms, flooding, and wildfires.