EnergySavvy Raises $14M To Help Utilities Beyond Efficiency Programs

The startup is also launching a consulting business to help utilities with change management.

EnergySavvy raised $14 million in a Series D round to expand energy-efficiency program management and move into a broader suite of offerings for utility customers.

The round was led by GXP Investments. It also included the investment affiliate of Great Plains Energy, the parent company of Kansas City Power and Light, and Inherent Group. Existing investors Prelude Ventures and EnerTech Capital joined as well. The Series D more than doubles the company's funding total to just over $26 million.

The Seattle-based startup expanded its enterprise energy-efficiency platform for monitoring contractor performance and utility efficiency program performance.

The newest additions to the platform are tools to help utilities better target and execute programs such as tree trimming, equipment leasing or selling distributed energy resources.

Our theory is that you need to use the same calculation engine consistently across all customer interactions,†said Scott Case, chief operating officer for EnergySavvy. Very often, different programs are run by different siloed departments using different software.

In some cases, EnergySavvy is in direct competition with companies like Bidgely, Opower or Tendril, all of which are taking unique approaches to managing customer relationships for utilities. But EnergySavvy can also coexist alongside these other companies, said Case.

Many utilities have dozens of programs they offer customers — but they have not yet fully customized who sees what message, where they see it and how they see it. How can we take every single barrier to action out of there?†asked Case.

EnergySavvy added five new utility customers this year, including DTE Energy and Oklahoma Gas & Electric, bringing its total to more than 40 utilities and state agencies.

Although EnergySavvy's entire business proposition is about nudging utilities into more modern and meaningful digital interactions with their customers, they also rolled out a new direct mail opti...