GridX Announces Closure of $40 Mn Series C Funding

Leading enterprise rate platform provider GridX announced that it has closed $40 million in Series C funding, led by global investment platform Energy Impact Partners.

April 18, 2022. By News Bureau

Leading enterprise rate platform provider GridX announced that it has closed $40 million in Series C funding, led by global investment platform Energy Impact Partners.

Moore Strategic Ventures (MSV), Sunfox Capital, and NGP ETP also took part in the round with Hunter Horgan of MSV joining the company’s board of directors. GridX also announced the appointment of Chris Black as the CEO of the company.

“Following our initial investment in GridX in 2021, the imperative to eliminate carbon from our economy has grown leaps and bounds,” said Lindsay Luger, Co-Founder & Partner, Energy Impact Partners. “While solutions to this generational challenge are still emerging, one thing is certain – electrification, adoption of distributed energy resources and increasingly complex rate structures demand the type of advanced analytics solutions provided by GridX.”

The energy industry is currently going through the largest transition since the advent of electricity. Utilities around the globe have made it their priority to dramatically reduce or eliminate carbon from our economy over course of the next 30 years.

From helping utilities design and implement new rates, to matching customers with those optimized for them, and accurately calculating the impact of energy-related actions on bills, GridX empowers energy suppliers to swiftly deploy new business models.

“I can’t think of a more exciting industry to be in as energy professionals are literally reinventing the way we power our daily lives,” said Chris Black, CEO, GridX. “But with these innovations come increased complexity from the exponential growth in distributed energy resources like solar and electric vehicles. Unfortunately, this complexity is most often felt by energy consumers because we’ve struggled to translate the impact of these technologies into dollars and cents so people know exactly what they can expect to pay. Communicating energy impact is easy but conveying the bill impact is incredibly hard. GridX is unique in its ability to do exactly this for anyone with an energy value proposition to homes and businesses.”

Chris boasts about 30 years of experience in technology and operational expertise, most recently serving as a principal partner at Huck Capital, an investment firm that is pioneering the next generation of sustainable, tech-enabled energy providers.

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