Bidgely announced that it has closed a Series B round of funding for $16.6 million. The oversubscribed round was led by new investor Constellation Technology Ventures, the venture capital arm of Exelon Corporation, whose family of energy companies include Constellation, BG&E, ComEd and PECO. The round also includes new European utility investors, E.ON and RWE, that combined give Bidgely access to 65 million new homes worldwide, as well as existing investor Khosla Ventures.

Bidgely said that the funding will further expand its consumer engagement product suite for home energy management and scale commercial deployment globally

“Bidgely has developed a suite of user-friendly applications that engage consumers in taking an active role managing their energy use,” said Michael Smith, Constellation vice president and head of Constellation Technology Ventures. “We’re pleased with the response to Bidgely’s offerings and see the potential to leverage their home energy management solutions in our residential competitive energy and utility businesses.”

TXU is among the current users of Bidgely's software to provide customers with disaggregated usage data

Tags:
Bidgely   Exelon   Constellation  

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