Residential energy demand management company OhmConnect announced a $55 million Series D round that was led by ClearSky, Sidewalk Infrastructure Partners, and TELUS Ventures. Investors also included Carrier and SunPower, whose business tie with the company was announced in March.
The funding round includes continued support from SIP, which led OhmConnect’s earlier Series C round. Other repeat investors included City Light Capital, Floodgate, Citi Impact Fund, Elemental Excelerator, and Radicle Impact. In addition to ClearSky, TELUS Ventures, Carrier and SunPower, Japan Energy Fund joined as a new investor. Barclays acted as sole placement agent to OhmConnect on the capital raise.
Proceeds will be used to expand the company’s reach to customers in national and international markets. Through a partnership with Google announced last year, OhmConnect integrates with appliances and devices from 30 companies and manufacturers. The addition of SunPower and Carrier to the OhmConnect ecosystem is expected to expand OhmConnect’s energy platform to a network of millions of grid-responsive devices, and enable greater levels of load flexibility for customers.
OhmConnect is based in Oakland, California, and does business in California, New York and Texas.