UtilityAPI announced the close of Series A funding with a $10 million investment, led by Aligned Climate Capital. The company said the funds will help it expand its platform and meet market demand for utility-level data sharing platforms.
In 2014, Daniel Roesler founded the company to fight climate change by offering what it said is a simple, fast, automated solution for sharing utility customer bills and interval data, shared only with explicit customer consent, and revocable at any time. Historically, energy efficiency service providers spent dozens of hours compiling and organizing customer usage data in order to propose appropriate technology solutions, the company said in a press release.
UtilityAPI said its software collects the data more quickly, which helps clean energy companies provide clean energy solutions faster, and more cheaply, said the company.
CEO Davin Hampton said his product lowers for deploying energy efficient technologies. “These services are the backbone of the future of energy and the energy transition. Without data exchange, this future is not possible,” he said.
Investor Aligned Climate Capital said it focuses on companies to invest in through the lens of ESG (Environmental, Social, Governance) metrics. In 2020, Hampton, UtilityAPI’s CEO, took to social media to hold up a mirror to his industry, writing, “As a clean energy leader and a black man, I often go to conferences and gatherings where I am one of a few, if not the only black person in the room.”
Since the start of the pandemic, UtilityAPI has negotiated deals with numerous investor owned utilities (IOUs), community choice aggregators (CCAs), and municipal utilities in the United States and Canada, it said.
UtilityAPI is exhibiting at DISTRIBUTECH International in Dallas from May 23-25, 2022.
