Leap, which describes itself as a, "provider of a universal distributed energy marketplace," today announced a new capital raise totaling $8.2 million from a combination of equity and debt.

The Series A funding round was led by Union Square Ventures.

The Series A also incorporates support from additional participants, including follow-on funding from existing investors Congruent Ventures, National Grid Partners, Powerhouse Ventures, Elemental Excelerator, and FJ Labs.

The new funds, which bring Leap’s total capital raised to approximately $11 million, will be used to enhance and expand operations in new markets and industries, and help grow the team in the United States and the Netherlands.

Leap’s marketplace enables cloud-connected sources of load to participate in wholesale energy markets. In 2019, Leap announced a partnership with Google Nest to allow its residential smart thermostat customers to contribute demand response services to the grid

Tags:
National Grid Partners   Finance   Distributed generation  

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