# SparkMeter

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sparkmeter

- Industry: Software
- Headquarters: Washington, US
- Website: www.sparkmeter.io
- Total disclosed funding: $31M
- Latest round: Series A (Mar 24, 2022)
- Investors on record: 10

## About

Based in Washington, US, SparkMeter, Inc. offers software solutions that enhance utility management by optimizing data utilization for improved operational efficiency and financial outcomes.Founded in 2013 in Washington, US, SparkMeter, Inc. specializes in utility management software solutions. The company has raised a total of USD 5.00 mn across 8 deals, with its most recent deal occurring on November 29, 2023, during which it received USD 5.00 mn in funding from Honeywell Ventures. The founders include Allison Archambault, Arthur Jacquiau-Chamski, and Nai Phasay, while Daniel Schnitzer serves as the CEO.SparkMeter provides advanced software solutions designed to optimize utility management through enhanced data utilization. The core offering includes a robust software platform that integrates various data sources, such as supply costs, rates, and meter data, enabling utilities to manage grid financial outcomes and operational efficiency effectively. This platform benefits utility managers and operators by simplifying the complexities of Advanced Meter Infrastructure (AMI) data. SparkMeter's solutions cater to a diverse client base, including municipal utilities and energy cooperatives, primarily operating in North America, Latin America, and parts of Africa, addressing contemporary utility challenges such as grid management and energy transition.SparkMeter generates revenue through a subscription-based model, offering its software solutions via licensing agreements with utility companies. Clients enter contracts providing access to the platform for integrated solutions in billing, payments, customer and asset management, and grid management workflows. While specific pricing details are not disclosed, the comprehensive capabilities of the platform allow utilities to achieve significant cost savings on IT and application expenditures, enhancing operational efficiency and financial management. Strategic partnerships with clients further bolster revenue potential through continuous engagement with SparkMeter's technological offerings.In November 2023, SparkMeter, Inc. raised USD 5.00 mn in venture funding to further expand its grid management services and solutions. The company plans to leverage this funding to enhance its product offerings and target new markets, aiming to advance its footprint in regions that demand improved utility management solutions.

## Funding rounds

- Series A, Mar 24, 2022, $5.8M — Breakthrough Energy Ventures, Clean Energy Ventures, Accurant International
- Series A, Aug 25, 2020, $12M — Goodwell Investments, Schmidt Family Foundation, Alitheia IDF Managers, Breakthrough Energy Ventures, Total Ventures, Clean Energy Ventures
- Series A, Apr 18, 2019, $11M — Clean Energy Ventures
- Seed, Jun 14, 2018, $2.5M — Powerhouse Ventures, Lateral Frontiers, Clean Energy Ventures
- Seed, Jul 15, 2014 — Factore Ventures

## Investors

- Factore Ventures (https://capitalatlas.ai/funds/factore-ventures) — Seed
- Powerhouse Ventures — Seed
- Lateral Frontiers (https://capitalatlas.ai/funds/lateral-frontiers) — Seed
- Clean Energy Ventures (https://capitalatlas.ai/funds/clean-energy-ventures) — Seed, Series A
- Goodwell Investments (https://capitalatlas.ai/funds/goodwell-investments) — Series A
- Schmidt Family Foundation — Series A
- Alitheia IDF Managers (https://capitalatlas.ai/funds/alitheia-idf-managers) — Series A
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series A
- Total Ventures (https://capitalatlas.ai/funds/total-ventures) — Series A
- Accurant International (https://capitalatlas.ai/funds/accurant-international) — Series A