WattBuy is a technology company.
WattBuy has raised $16.0M across 3 funding rounds.
WattBuy has raised $16.0M in total across 3 funding rounds.
WattBuy is a climate-focused technology company that operates a personalized energy marketplace, helping households in deregulated U.S. markets compare and switch to cheaper, cleaner electricity plans, solar options, and electrification solutions.[1][3][4][6] It serves consumers, enterprises, and energy providers by using address-based data, machine learning models trained on millions of homes, and APIs to deliver instant insights on usage, carbon footprints, utility rates, and tailored bundles from trusted providers—saving users money while accelerating renewable adoption.[3][4][6] The platform targets "energy decision moments" like moving or homebuying, with partnerships expanding its reach to over 80 million people annually via integrations with Nextdoor, Redfin, and others; it earns through commissions and now powers enterprise tools post-acquisition by Schneider Electric.[2][3][5]
WattBuy was co-founded in 2017 by CEO Naman Trivedi and CTO/CPO Ben Hood after both were personally scammed by an electricity provider's teaser rate that doubled shortly after signup, inspiring them to build transparency into a opaque industry.[1][3][6] Trivedi, based in Seattle, previously worked at Google on AdWords and served as a science and technology advisor in the Obama White House; Hood, in Washington D.C., was formerly CEO of Polish mobile developer GogoApps.[1] The team, including engineers in Hyderabad, India, graduated from Techstars Kansas City accelerator and won 1st place in Apps for Energy; early funding included a seed round and $265,000 from Schmidt Futures to support OpenEI open data efforts with the National Renewable Energy Laboratory.[1][4][6]
Pivotal early traction came from launching in deregulated markets like Texas, New York, Connecticut, and Pennsylvania, where only 13% of eligible residents shopped providers—WattBuy aimed to boost participation via simple usage uploads and plan comparisons favoring renewables.[1] By 2024, seven years in, it had evolved into API-driven partnerships and was acquired by Schneider Electric to scale residential electrification.[3][5]
WattBuy rides the residential electrification and clean energy transition wave, capitalizing on deregulated markets (dozens of states) where consumers can choose providers but rarely do due to complexity—its platform boosts participation, supports renewables, and aligns with federal open data pushes like OpenEI.[1][2][6] Timing is ideal amid rising climate urgency, solar cost drops, and "energy decision moments" tied to housing mobility; market forces like utility rate hikes and electrification mandates (e.g., EVs, heat pumps) favor its instant, hyperlocal tools.[3][5]
It influences the ecosystem by democratizing data—exposing estimates to 80M+ users, fostering partnerships beyond energy (e.g., real estate), and accelerating adoption via Schneider Electric's global scale, proving software marketplaces can bridge consumers, providers, and enterprises for measurable emissions cuts.[2][3][5]
Post-Schneider Electric acquisition, WattBuy is poised to supercharge U.S. residential electrification, embedding its APIs into more home services for seamless clean energy bundles.[5] Trends like AI-driven energy optimization, expanding deregulation, and corporate net-zero pledges will propel growth, potentially extending to more states and global markets via Schneider's reach. Its influence may evolve from niche marketplace to infrastructure layer, nudging millions toward renewables and redefining household energy access as effortlessly as shopping online—turning personal scams into systemic wins for the climate.[3][6]
WattBuy has raised $16.0M in total across 3 funding rounds.
WattBuy's investors include Amazon Alexa Fund, Bowery Capital, Calibrate Ventures, Crosslink Capital, Giant Ventures, Hyperplane Venture Capital, Scale Venture Partners, Tekfen Ventures, Omar El-Ayat, MS&AD Ventures, Powerhouse Ventures.
WattBuy has raised $16.0M across 3 funding rounds. Most recently, it raised $11.0M Series A in October 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2021 | $11.0M Series A | Amazon Alexa Fund, Bowery Capital, Calibrate Ventures, Crosslink Capital, Giant Ventures, Hyperplane Venture Capital, Scale Venture Partners, Tekfen Ventures, Omar El-Ayat | |
| Nov 1, 2020 | $3.0M Series A | MS&AD Ventures, Powerhouse Ventures | |
| Jul 1, 2019 | $2.0M Seed | MS&AD Ventures, Powerhouse Ventures |