Choose Energy, Inc., a Plano, TX-based online energy marketplace, raised $4m in Series A funding.
Backers included Kleiner Perkins Caufield & Byers (KPCB) and Stephens Capital Partners.
The company intends to use the capital to accelerate growth, expand technology development and marketing efforts, augment the scope of services for retail energy suppliers, and strengthen its market position.
Founded in 2008 and led by Jerry Dyess, CEO, Choose Energy educates consumers on their options for residential electricity supply. It provides an interface to allow them to compare retail electricity plans, filter plans based on term, price, and type, select a plan that they like, and enroll online. The company is also building tools to help retail energy providers compete more effectively, leveraging lessons from telecommunications, travel, media and other web-enabled industries.
Currently active in Texas, New York, Ohio, Pennsylvania and Illinois, Choose Energy plans to enter all 19 deregulated energy states and 22 deregulated natural gas states.