# Span.IO

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/span-io

- Industry: Power & Utilities
- Headquarters: San Francisco, US
- Website: www.span.io
- Total disclosed funding: $197M
- Latest round: Series B (Feb 17, 2023)
- Investors on record: 20

## About

Span.IO, Inc. is a US-based company specializing in innovative energy management solutions for residential settings, focusing on advanced electrical panels that optimize energy consumption across various appliances.Span.IO, Inc. was founded in 2018 and operates from its headquarters in San Francisco, US. The company is focused on enhancing energy management in homes and has completed six deals, including its most recent funding round in February 2023, where it raised USD 83.95 mn in Series B funding led by Wellington Management. The founder, Arch Rao, has a background in technology and energy sectors, contributing to the company's vision of smart energy solutions.SPAN® offers advanced electrical panels aimed at improving energy management in residential settings. Their flagship product, the SPAN Panel, integrates PowerUp technology for efficient monitoring and control of energy consumption at the room and appliance level, facilitating easy integration of appliances like EV chargers and heat pumps without requiring expensive utility upgrades. SPAN focuses on homeowners and residential builders in the US, Canada, and select European markets, addressing the growing need for energy efficiency amid rising electricity costs.SPAN generates revenue through the direct sale of SPAN Panels and home energy management systems to consumers and contractors, utilizing a B2B and B2C structure. The company collaborates with builders and installers for broader distribution, while specific pricing details remain undisclosed. SPAN also partners with firms like Mitsubishi Electric to enhance installation flexibility, expanding their market reach in the energy management sector.In February 2023, Span.IO, Inc. raised USD 83.95 mn in Series B funding, which will be utilized to support product development and expand its vertical. The company is focused on launching new products aimed at residential energy management solutions and plans to enter additional markets in the near future.

## Funding rounds

- Series B, Feb 17, 2023, $84M — Capricorn Investment Group, Wellington Management, Qualcomm Ventures, Munich Re Ventures, Fifth Wall Ventures, Congruent Ventures, Noa, Amazon
- Series B, Jan 4, 2022, $68M — Wellington Management, Angeleno Group, Fifth Wall Ventures, Noa, FootPrint Coalition, Obsidian Investment Partners
- Series A, Mar 31, 2021, $10M — TDK Ventures
- Series B, Dec 11, 2020, $20M — HCVC, Munich Re Ventures, Amazon
- Series A, Feb 10, 2020, $10M — Capricorn Investment Group, ArcTern Ventures, HCVC, Incite Ventures
- Seed, Dec 28, 2018, $3.8M — Ulu Ventures, Earth Foundry, 1/0 Capital, HCVC, Wireframe Ventures, Congruent Ventures, Wells Fargo Strategic Capital

## Investors

- Ulu Ventures (https://capitalatlas.ai/funds/ulu-ventures) — Seed
- Earth Foundry (https://capitalatlas.ai/funds/earth-foundry) — Seed
- 1/0 Capital (https://capitalatlas.ai/funds/1-0-capital) — Seed
- HCVC (https://capitalatlas.ai/funds/hcvc) — Seed, Series A, Series B
- Wireframe Ventures (https://capitalatlas.ai/funds/wireframe-ventures) — Seed
- Congruent Ventures (https://capitalatlas.ai/funds/congruent-ventures) — Seed, Series B
- Wells Fargo Strategic Capital — Seed
- Capricorn Investment Group (https://capitalatlas.ai/funds/capricorn-investment-group) — Series A, Series B
- ArcTern Ventures (https://capitalatlas.ai/funds/arctern-ventures) — Series A
- Incite Ventures (https://capitalatlas.ai/funds/incite-ventures) — Series A
- Munich Re Ventures (https://capitalatlas.ai/funds/munich-re-ventures) — Series B
- Amazon (https://capitalatlas.ai/funds/amazon) — Series B
- TDK Ventures (https://capitalatlas.ai/funds/tdk-ventures) — Series A
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series B
- Angeleno Group (https://capitalatlas.ai/funds/angeleno-group) — Series B
- Fifth Wall Ventures (https://capitalatlas.ai/funds/fifth-wall-ventures) — Series B
- Noa (https://capitalatlas.ai/funds/noa) — Series B
- FootPrint Coalition (https://capitalatlas.ai/funds/footprint-coalition) — Series B
- Obsidian Investment Partners (https://capitalatlas.ai/funds/obsidian-investment-partners) — Series B
- Qualcomm Ventures (https://capitalatlas.ai/funds/qualcomm-ventures) — Series B