Arcadia (previously Arcadia Power), a Washington DC-based greentech company focused on bridging the gap between residential consumers and renewable energy, raised $30mm in series C funding.
The round was led by G2VP with participation from new investors Macquarie Group and Seek Ventures, and existing investors Mitsui USA, Energy Impact Partners, BoxGroup, and ValueAct Spring Fund.
The company intends to use the funds from four to eight states, release new energy subscription pricing models, and incentivize customers to use smart home devices to lower and shift their energy consumption.
Founded in 2014, by CEO Kiran Bhatraju, Arcadia provides simplified and equitable clean energy access to all Americans. The software manages consumer utility accounts to bundle clean energy, energy efficiency tools, rate monitoring and more in a modern account experience. The company’s platform now integrates with more than 125 utilities in all 50 states, and manages 4.5 terawatt-hours of residential energy demand.