# David Energy Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/david-energy-systems

- Industry: Renewable Energy
- Headquarters: New York, US
- Website: www.davidenergy.com/
- Total disclosed funding: $48M
- Latest round: Series A (Sep 23, 2024)
- Investors on record: 11

## About

David Energy Systems, Inc. is a US-based energy solutions provider specializing in electricity supply services that reduce costs and promote clean energy use for businesses.Founded in 2019 in New York, US, David Energy Systems, Inc. focuses on innovative energy solutions. The company completed 7 deals, with its most recent funding round of USD 23.00 mn in Series A on September 23, 2024, led by Cathay Capital and involving notable investors like Union Square Ventures and Keyframe Capital Partners. The company's leadership includes CEO James McGinniss, who, along with co-founders Ahmed Salman and Brian Maxwell, has expertise in energy management and technology.David Energy specializes in electricity supply services aimed at minimizing costs for businesses and promoting clean energy use. The company's core offerings include customized electricity rates, advanced monitoring systems to detect billing errors, smart thermostats for energy efficiency, and a Community Solar Plan that allows businesses to subscribe to power from local solar farms. Its client base primarily consists of commercial entities across various sectors, including fitness studios, restaurants, and retail chains, operating in the United States.David Energy operates primarily through a business-to-business model, generating revenue through subscription services that include customized electricity rates and additional offerings such as advanced monitoring and smart thermostat installations. Clients receive ongoing support and guidance from dedicated advisors under structured agreements designed to reflect their specific needs, ensuring cost savings. By partnering with local solar farms and energy efficiency programs, David Energy provides reliable energy and innovative solutions to reduce operational costs.In September 2024, David Energy Systems, Inc. secured USD 23.00 mn in Series A funding to expand its commercial and residential energy solutions across the Northeast and Texas. The company plans to enhance its capabilities to manage renewable energy fluctuations while developing new products aimed at improving energy efficiency and cost savings for clients. This funding will support initiatives geared towards geographic expansion and the introduction of innovative services to meet market demands.

## Funding rounds

- Series A, Sep 23, 2024, $23M — Union Square Ventures, Cathay Capital, BoxGroup, Equal Ventures, Keyframe Capital Partners
- Series A, Mar 11, 2022, $21M — Union Square Ventures, BoxGroup, Toba Capital, Equal Ventures, Turntide Technologies, Inc., Keyframe Capital Partners, MCJ
- Seed, Feb 9, 2021, $4.1M — Greycroft, BoxGroup, Equal Ventures, Lorimer Ventures, Operator Partners, MCJ

## Investors

- Greycroft (https://capitalatlas.ai/funds/greycroft) — Seed
- BoxGroup (https://capitalatlas.ai/funds/boxgroup) — Seed, Series A
- Equal Ventures (https://capitalatlas.ai/funds/equal-ventures) — Seed, Series A
- Lorimer Ventures (https://capitalatlas.ai/funds/lorimer-ventures) — Seed
- Operator Partners — Seed
- MCJ (https://capitalatlas.ai/funds/mcj) — Seed, Series A
- Union Square Ventures (https://capitalatlas.ai/funds/union-square-ventures) — Series A
- Toba Capital (https://capitalatlas.ai/funds/toba-capital) — Series A
- Turntide Technologies, Inc. — Series A
- Keyframe Capital Partners — Series A
- Cathay Capital — Series A