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§ Private Profile · Boston, MA, USA
Tank Utility is a technology company.
Tank Utility develops wireless monitoring systems for propane tanks, integrating LTE and WiFi devices with a mobile application. This core product offers real-time fuel level tracking, enabling users to monitor consumption and proactively manage deliveries. Their technology ensures robust connectivity for data transmission.
The company originated from the insight that dependable propane tank monitoring was crucial, preventing unexpected fuel depletion for consumers and streamlining logistics for distributors. This need drove the creation of a connected system providing clarity and control in fuel management. Founder details are not widely publicized, but the venture addressed a key industry pain point.
Tank Utility serves residential and business customers, offering precise oversight of propane inventories and facilitating delivery planning. The company’s vision centers on eliminating fuel shortages and enhancing supply chain efficiency through intelligent, user-friendly monitoring. Its technology expands remote management capabilities within energy ecosystems.
Tank Utility has raised $14.0M across 3 funding rounds.
Tank Utility has raised $14.0M in total across 3 funding rounds.
Tank Utility has raised $14.0M in total across 3 funding rounds.
Tank Utility's investors include Paul Martino, Array Ventures, Harris Brody, Sara Chamberlain, Generac Power Systems, Serra Ventures, Bullpen Capital, BDC Venture Capital, Catapult Capital, CP Ventures, Energy Foundry, Mayfield.
Tank Utility has raised $14.0M across 3 funding rounds. Most recently, it raised $6.0M Other Equity in February 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 14, 2019 | $6M Venture Round | Paul Martino | Array Ventures, Harris Brody, Sara Chamberlain, Generac Power Systems, Serra Ventures | Announced |
| Feb 1, 2019 | $6M Series U | Bullpen Capital | Array Ventures, BDC Venture Capital, Catapult Capital, CP Ventures, Energy Foundry, Mayfield, NextView Ventures, Norwest Venture Partners, Volition Capital, Charlie Songhurst, TOM Williams, Blue FOG Capital, Generac Power Systems, Serra Ventures | Announced |
| Aug 1, 2016 | $2M Seed | Energy Foundry, Harris Brody | BDC Venture Capital, Bolt, Aaron Jagdfeld | Announced |
Tank Utility is a Boston-based IoT and software company that builds remote propane and fuel tank monitoring hardware and analytics to optimize last-mile fuel delivery for homeowners and fuel marketers; it was founded in 2014 and was acquired by Generac in 2021.[2][1]
High-Level Overview
Origin Story
Core Differentiators
Role in the Broader Tech Landscape
Quick Take & Future Outlook
Quick take: Tank Utility is a focused IoT/software player that turned a simple, high-value consumer pain (running out of propane) into an operations product for fuel distributors; acquisition by Generac gives it a stronger channel and product integration runway to extend its impact across home and fuel-energy markets.[2][1]