Choose Energy announced today that it has received a Series A fundraising round from Kleiner Perkins Caufield amp Byers KPCB and Stephens Capital Partners The capital will be used to accelerate growth supplement the world-class technology and marketing team expand the scope of services for retail energy suppliers and strengthen its market position as the most visited online energy marketplace
Founded in , Choose Energy educates consumers on their options for residential electricity supply It provides a simple intuitive interface to allow consumers to compare retail electricity plans filter plans based on term price and type select a plan that they like and seamlessly enroll online Choose Energy is also building tools to help retail energy providers compete more effectively leveraging lessons from telecommunications travel media and other web-enabled industries
Choose Energy is defining the new norm for choosing energy online and has helped more than 100,000 consumers find and enroll with a new electricity supplier Currently active in Texas New York Ohio Pennsylvania and Illinois the Company plans to enter all 19 deregulated energy states and 22 deregulated natural gas states which combined represent 250 billion of annual spend in the U S While a range of plans is offered on the site more than % of Choose’s customers have selected % green power plans
Ten years after deregulation we’re still experiencing a huge communications gap between the consumers of energy and retail energy providers said Jerry Dyess CEO of Choose Our goal is to bring transparency to the complex decisions consumers face when choosing a new energy plan in deregulated states By providing a decision-making destination for consumers that’s akin to choosing a flight online we drive new sales improve satisfaction and dramatically cut acquisition costs The addition of Kleiner Perkins and Stephens supports our vision of a nationwide platform that serves this vibrant energy marketplace ”
In addition to helping consumers find the energy plan that’s right for them Choose Energy is developing solutions for Retail Energy Providers to support customer acquisition compelling offer creation customer enrollment and ongoing relationship management
Traditional utilities were not built to compete for customers or to maintain an ongoing dialogue with them said David Mount partner at Kleiner Perkins Caufield amp Byers Choose is building the solutions that enable retail energy providers to attract and develop lasting relationships with their customers ”
Stephens is delighted to be involved in this financing round and we believe Choose Energy has the potential to be a disruptive player in the deregulated energy marketplace reducing friction for both consumers and retail energy providers With this unique combination of silicon valley technology and Texas energy we see a huge opportunity for transformational growth said Justin Courtney Senior Vice President of Stephens Inc
About Choose Energy
Since its inception in , ChooseEnergy com has helped over 100,000 consumers and business owners shop for and switch energy suppliers and plans with over 1 billion KWH of energy selection occurring through the Choose Energy platform ChooseEnergy com is currently available in Texas New York Ohio and now Pennsylvania For more information please visit http://www chooseenergy com
About Kleiner Perkins Caufield amp Byers KPCB
Kleiner Perkins Caufield amp Byers KPCB has backed entrepreneurs in more than 500 ventures leading to 150 IPOs 350,000 jobs and a deep strategic network The firm has helped build pioneering companies like Align Amazon Electronic Arts Genentech Genomic Health Google Intuit Juniper Networks Netscape Symantec VeriSign and WebMD KPCB partners serve on the boards of Amazon Apple Bloom Energy Flipboard Foundation Medicine Google Hewlett-Packard Nest Square Tesaro and Zynga among others KPCB accelerates the success of entrepreneurs with a team of partners delivering company-building services including strategy operational scaling recruiting business development product delivery and marketing communications The firm invests in all stages from seed and incubation to growth companies KPCB operates from offices in Menlo Park San Francisco Shanghai and Beijing http://www kpcb com
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Choose%20Energy/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
