What is OhmConnect?
OhmConnect, founded in 2014 and based in Oakland, CA, operates a residential energy flexibility platform. The company empowers homeowners to manage their energy consumption more efficiently, contributing to grid stability and enabling participation in demand response programs. By providing tools and incentives, OhmConnect facilitates a more dynamic and responsive energy ecosystem, aligning with broader goals of sustainability and grid modernization. The company's innovative approach positions it as a key player in the smart home and utility technology space.
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 Josh Cohen, Mike Maples, Mark Pincus, Dan Skaff, Kat Taylor, Jerry Yang, and Jennifer Fonstad
Debt (2020): $350K led by PPP
Private Equity (2020): $80M supported by Sidewalk Infrastructure Partners
Series D (2022): $55M featuring Sidewalk Infrastructure Partners, Telus Ventures, and ClearSky
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. The company invests in and develops innovative businesses and projects that address the growing demands for resilient, intelligent, and scalable energy and digital systems. Their notable ventures include Renew Home, which operates residential virtual power plants, and Verrus, which designs sustainable data centers. Sidewalk Infrastructure Partners aims to transform critical infrastructure to meet the challenges of modern energy and computing needs.
Telus Ventures
Telus Ventures is the venture capital arm of Telus Corporation, a Canadian telecommunications company. They invest in companies that align with Telus's strategic priorities, often focusing on technology solutions that enhance customer experience, digital transformation, and innovation in areas such as AI, IoT, and health tech.
ClearSky
ClearSky is an investment firm that typically focuses on technology and energy sectors, often backing companies with innovative solutions that address market needs in areas like cybersecurity, enterprise software, and sustainable energy technologies.
What's next for OhmConnect?
The substantial enterprise-level capital infusion signifies a critical growth phase for OhmConnect. This strategic backing is expected to accelerate the company's expansion, potentially through enhanced platform development, broader market outreach, and strategic partnerships within the energy sector. The focus on residential energy flexibility aligns with increasing consumer and regulatory demand for smarter, more sustainable energy solutions, positioning OhmConnect for continued innovation and leadership in its field.
See full OhmConnect company page
