What is SparkMeter?
Founded in 2013 and headquartered in Washington D.C., SparkMeter addresses critical needs in utility management by manufacturing smart meters and developing integrated software solutions. These technologies are designed to automate payment processes, enable proactive maintenance scheduling, and provide comprehensive monitoring of system performance. This focus positions SparkMeter as a key player in modernizing energy infrastructure and improving operational efficiency for utility providers.
How much funding has SparkMeter raised?
SparkMeter has raised a total of $36M across 6 funding rounds:
Angel/Seed
$2.5M
Multiple Rounds
$23.1M
Debt
$400K
Unspecified
$10M
Angel/Seed (2019): $2.5M, investors not publicly disclosed
Debt (2020): $150K led by PPP
Series A (2020): $12M supported by Breakthrough Energy Ventures, Alitheia Capital, Clean Energy Ventures, Total Energy Ventures, and Goodwell Investments
Other Financing Round (2020): $11M, investors not publicly disclosed
Debt (2021): $400K backed by PPP
Unspecified (2022): $10M with participation from Clean Energy Ventures, Accurant International, and Breakthrough Energy Ventures
Key Investors in SparkMeter
Breakthrough Energy Ventures
Breakthrough Energy Ventures (BEV) is a prominent investment firm focused on pioneering clean energy innovations to achieve net-zero emissions. They invest in early-stage companies developing transformative technologies across various sectors, including electricity, agriculture, and transportation, backed by a consortium of global business leaders.
Clean Energy Ventures
Clean Energy Venture Group (CEVG) is an angel investor collective that provides seed capital and mentorship to early-stage cleantech and climatetech startups in North America, aiming to foster innovation and address climate change challenges.
Total Energy Ventures
Total Energy Ventures is an investment arm focused on energy-related technologies and companies, likely seeking to support innovation and strategic growth within the energy sector.
What's next for SparkMeter?
The recent major strategic investment in SparkMeter signals a strong confidence from its backers in the company's trajectory and its potential to scale. This influx of capital is likely to fuel further product development, expansion into new markets, and enhancement of its software platform. SparkMeter's commitment to automating utility payments and optimizing system performance aligns with global trends towards smart grids and efficient resource management, suggesting a robust future for the company as it continues to innovate and grow.
See full SparkMeter company page
