What is OhmConnect?
Founded in 2014, OhmConnect operates a sophisticated residential energy flexibility platform that empowers households to actively participate in grid stabilization. By incentivizing users to reduce energy consumption during peak demand periods, the company effectively functions as a virtual power plant, providing utilities with a scalable and sustainable alternative to traditional, carbon-intensive peaking plants. This market position is bolstered by a robust technological framework that integrates seamlessly with smart home devices, allowing for automated demand response that maximizes both consumer savings and grid efficiency.
How much funding has OhmConnect raised?
OhmConnect has raised a total of $143.8M across 4 funding rounds:
Series B
$8.5M
Debt
$350K
Private Equity
$80M
Series D
$55M
Series B (2018): $8.5M with participation from Jerry Yang, Mark Pincus, Dan Skaff, Jennifer Fonstad, Mike Maples, Josh Cohen, and Kat Taylor
Debt (2020): $350K led by PPP
Private Equity (2020): $80M supported by Sidewalk Infrastructure Partners
Series D (2022): $55M featuring Telus Ventures, ClearSky, and Sidewalk Infrastructure Partners
Key Investors in OhmConnect
Sidewalk Infrastructure Partners
Sidewalk Infrastructure Partners focuses on pioneering technology-enabled infrastructure to enhance urban life and create long-term value through intelligent and scalable energy systems.
Telus Ventures
Telus Ventures is the strategic investment arm of the telecommunications giant, focusing on high-growth companies that leverage connectivity and digital innovation to solve complex industry challenges.
ClearSky
ClearSky is a venture capital firm that invests in companies developing innovative technologies for the energy, power, and industrial sectors to drive sustainable growth.
What's next for OhmConnect?
With the recent influx of capital, OhmConnect is well-positioned to accelerate its expansion into new markets and enhance its technological capabilities. The company is expected to focus on deepening its integration with smart home ecosystems and scaling its virtual power plant operations to meet the growing demand for resilient energy solutions. As the energy sector faces mounting pressure to decarbonize, OhmConnect's ability to aggregate residential flexibility will likely remain a cornerstone of its long-term growth strategy, enabling it to play a central role in the modernization of the electrical grid.
See full OhmConnect company page
