OhmConnect, an Oakland, CA-based provider of a residential energy flexibility platform, raised $55M in Series D funding.
The round was led by ClearSky, Sidewalk Infrastructure Partners (SIP), TELUS Ventures, with participation from Carrier and SunPower, as well as SIP, City Light Capital, Floodgate, Citi Impact Fund, Elemental Excelerator, Radicle Impact and Japan Energy Fund.
The company intends to use the funds to integrate with dozens of new technology and appliance companies, expand its energy flexibility solution into new markets and support the build out of several gigawatts of flexible electric load across the United States.
Led by CEO Cisco DeVries, OhmConnect helps hundreds of thousands of customers manage their at-home electricity and rewards them for smarter energy use. The company pays its customers for saving electricity when the grid is stressed and likely to utilize dirty power, unlocking clean and reliable energy. It has paid more than $17 million in rewards to its customers. Customers of the three major California electric utilities – Pacific Gas & Electric (PG&E), Southern California Edison (SCE), and San Diego Gas & Electric (SDG&E) – as well as Con Edison in New York, can sign up with OhmConnect for free at ohmconnect.com. Texas residents can select OhmConnect as their retail electric provider.
FinSMEs
10/06/2022