# Swell Energy

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

- Industry: Renewable Energy
- Headquarters: Santa Monica, US
- Website: www.swellenergy.com
- Total disclosed funding: $113M
- Latest round: Series B (Sep 2, 2022)
- Investors on record: 4

## About

Based in California, US, and founded in 2014 by CEO Suleman Khan, COO Andrew Meyer, and CRO Matthew Rising, Swell Energy Inc., a.k.a. Swell Energy operates as a home energy company that provides distributed energy and grid solutions, enabling homeowners and businesses to adopt distributed clean energy technologies and take control of their energy use and cost, achieve energy security, and participate in the transactive grid. In November 2022, Swell Energy Inc. raised USD 120 million in series B funding led by SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund I, LP with participation from Ares Infrastructure Opportunities fund and Ontario Power Generation Pension Fund.

The company provides homeowners and businesses with financing and virtual power plant programs while partnering with local solar and solar plus storage enterprises for installations. Swell Energy also delivers resilient virtual power plant networks and grid-balancing services to utilities by creating a critical mass of clean energy resources within utility service areas across the United States.

Swell Energy plans to use its proceeds from November 2022 funding to further develop its 600 MWh of virtual power plants (VPPs) through the deployment and aggregation of 26,000 energy storage systems located at homes and businesses across the United States.

## Funding rounds

- Series B, Sep 2, 2022, $113M — Ares Management, Ontario Power Generation Pension Fund, SB Investment Advisers, Greenbacker Capital Management

## Investors

- Ares Management (https://capitalatlas.ai/funds/ares-management) — Series B
- Ontario Power Generation Pension Fund — Series B
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series B
- Greenbacker Capital Management (https://capitalatlas.ai/funds/greenbacker-capital-management) — Series B