What is Stem?
Headquartered in San Francisco, Stem, Inc. operates as a sophisticated provider of digitally connected, intelligent, and renewable energy storage networks. At the core of its value proposition is Athena, an advanced software platform that optimizes battery hardware and provides software-enabled services for real-time site operation and control. By integrating edge hardware with intelligent software, Stem enables commercial and industrial enterprises, utilities, and grid operators to manage energy consumption and storage with unprecedented precision.
The company’s market position is bolstered by its ability to bridge the gap between original equipment manufacturers and end-users, providing a comprehensive ecosystem that enhances grid stability and efficiency. As the global energy landscape shifts toward decarbonization, Stem’s focus on digitized energy management positions it as a pivotal player in the transition to a more electrified and sustainable economy.
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 Angeleno Group, Iberdrola, and GE Ventures
Private Equity (2015): $27M featuring Total Energy Ventures and Constellation Technology Ventures
Series C (2016): $15M backed by Mitsui & Co., Ltd, Mithril Capital Management, Constellation, Iberdrola, Angeleno Group, and GE Ventures
Private Equity (2016): $100M with participation from Starwood Capital Group
Series D (2018): $106M led by Temasek Holdings, BNP Paribas, Ontario Teachers Pension Plan, Activate Capital, and Magnesium Capital
Stock Issuance/Offering (2021): $1.6B, investors not publicly disclosed
Key Investors in Stem
Temasek Holdings
Founded in 1974, Temasek is a global investment company headquartered in Singapore. We are a generational investor, seeking to make a difference always with tomorrow in mind.
BNP Paribas
BNP Paribas is a leading international banking group headquartered in Paris, France, providing financing, advisory, and capital markets solutions with a strong commitment to sustainable finance and energy transition projects.
Ontario Teachers Pension Plan
Founded in 1989, the Ontario Teachers' Pension Plan is an independent organization responsible for administering defined-benefit pensions and managing a diverse global investment portfolio.
What's next for Stem?
With the support of its recent capital infusion, Stem is well-positioned to accelerate the deployment of its Athena platform and expand its reach within the renewable energy infrastructure sector. The company’s strategic roadmap likely involves deepening its integration with grid operators and enhancing its software capabilities to address the complexities of modern energy markets. By focusing on scalability and technological innovation, Stem aims to maintain its competitive edge in the rapidly evolving clean energy landscape, ensuring that its energy storage solutions remain at the forefront of the global transition to low-carbon power systems.
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