Choose Energy, a Plano, TX-based energy marketplace that allows residents and businesses to switch energy providers and save money on their energy bills, raised $7.5m in Series B funding.
Backers in the round included Kleiner Perkins Caufield & Byers, BlueScape Resources, NGEN Partners, Stephens Capital Partners and Michael Polsky.
The company intends to use the funds to expand into all 19 deregulated electricity states and 22 natural gas states in 2014 and improve the platform.
Led by newly appointed CEO Kerry Cooper and founder Jerry Dyess, who will become chief commercial officer, Choose Energy is a free online marketplace that enables residents and businesses to compare and switch energy suppliers in their area. It is currently available in Pennsylvania, Texas, New York, Ohio, Connecticut, Illinois, Maryland and New Jersey.