OPOWER Closes $50M Strategic Financing Round
Summary
OPOWER, an Arlington, VA-based energy efficiency and Smart Grid software company, closed a $50m strategic round of financing., an Arlington, VA-based energy efficiency and Smart Grid software company, closed a $50m strategic The investment was co-led by Accel Partners and Kleiner Perkins Caufield & Byers, with participation from New Enterprise Associates (NEA), the company’s largest investor.Founded in 2007, the company has developed a SaaS customer engagement platform that uses data analytics to help electric and gas utilities evaluate a household’s energy usage patterns, without the need for hardware to be installed inside the home.The solution applies behavioral science techniques and a multi-channel communication strategy to engage households to take energy saving actions.OPOWER currently works with 45 utilities throughout the U.S., including seven of the country’s ten largest energy providers.
