What is Stem?
Stem, Inc. operates globally as a provider of energy storage hardware and software-enabled services. The company's offerings include energy storage hardware sourced from original equipment manufacturers (OEMs), edge hardware for data collection and site control, and its proprietary software platform, Athena. This platform facilitates the operation of energy storage systems for a diverse clientele, including commercial and industrial enterprises, independent power producers, renewable project developers, and utilities and grid operators. Founded in 2009 and headquartered in San Francisco, California, Stem is at the forefront of developing intelligent and renewable energy solutions.
How much funding has Stem raised?
Stem has raised a total of $1.9B across 8 funding rounds:
Debt
$2.9M
Series A
$10.2M
Series B
$15M
Private Equity
$27M
Series C
$15M
Private Equity
$100M
Series D
$106M
Stock Offering
$1.6B
Debt (2009): $2.9M, investors not publicly disclosed
Series A (2012): $10.2M led by Angeleno Group and Greenercap
Series B (2013): $15M supported by GE Ventures, Angeleno Group, and Iberdrola
Private Equity (2015): $27M featuring Constellation Technology Ventures and Total Energy Ventures
Series C (2016): $15M backed by Mithril Capital Management, Iberdrola, GE Ventures, Constellation Technology Ventures, Mitsui & Co., Ltd, and Angeleno Group
Private Equity (2016): $100M with participation from Starwood Capital Group
Series D (2018): $106M led by Activate Capital, Ontario Teachers Pension Plan, Temasek Holdings, BNP Paribas, and Magnesium Capital
Stock Issuance/Offering (2021): $1.6B, investors not publicly disclosed
Key Investors in Stem
Activate Capital
Activate Capital is an investment firm that likely focuses on supporting companies with innovative technologies and growth potential, particularly within the energy and technology sectors.
Ontario Teachers Pension Plan
The Ontario Teachers' Pension Plan is a major institutional investor responsible for managing pension funds, indicating a focus on stable, long-term investments with strong growth prospects.
Temasek Holdings
Temasek Holdings is a global investment company with a long-term investment horizon, likely seeking to support companies driving significant industry transformation and sustainable growth.
What's next for Stem?
With substantial enterprise-level backing and a recent strategic investment, Stem is well-positioned for accelerated growth and market leadership. The company's focus on intelligent energy storage solutions aligns with the global shift towards renewable energy and grid modernization. Future strategic initiatives are likely to involve expanding its network capabilities, enhancing its Athena software platform with advanced AI and machine learning features, and forging new partnerships to broaden its market reach. This capital infusion will support Stem's mission to optimize energy usage and promote sustainability through advanced storage technologies.
See full Stem company page
