OhmConnect, a San Francisco, CA-based energy sharing service, raised $8.5M in Series B funding.
The round, which brings total funding to $15m, was led by Mike Maples of Floodgate, with participation from Jennifer Fonstad of Aspect Ventures, Josh Cohen of City Light Capital, Dan Skaff and Kat Taylor of Radicle Impact, Jerry Yang & Jeff Chung of AME Cloud Ventures, Jim Babcock of Cthulhu Ventures, and Mark Pincus.
The company intends to use the funds to expand into new markets beyond California, including New York, Texas, and the rest of the country.
Led by Matt Duesterberg, CEO, OhmConnect provides an energy sharing service that lets its community of families in homes and apartments to know when to share energy and pays them for participating. The company’s 300,000 energy sharers generate over 100 Megawatts, which is the equivalent of four peaker power plants.