Bidgely, a Sunnyvale, CA-based provider of a consumer engagement product suite for home energy management, closed a $16.6m Series B round of funding.
The round was led by new investor Constellation Technology Ventures, the venture capital arm of Exelon Corporation, with participation from E.ON (EOAN:GR) and RWE (RWE:GR) as well as existing investor Khosla Ventures.
The company intends to use the funds to scale commercial deployment globally, mainly expanding its European presence.
Led by CEO Abhay Gupta, Bidgely combines SaaS-based analytics with web and mobile applications to provide personalized and actionable insights that allow customers to save energy and utilities to better serve residential customers.
In the past year alone, the company has secured numerous multi-million dollar customer contracts that cover more than 3 million homes across four continents. It is currently deploying 12 customer projects such as those announced with ComEd, London Hydro and TXU.