Arcadia’s software platform, a utility data API allows for companies to view aggregated data on both energy usage and pricing across the nation, in addition to connecting customers to their own clean energy products.
The climate software startup has a focus to decarbonize the electric grid which is huge and necessary to fight in the climate crisis. The company aims to offer energy data from 125 utilities spread across the United States which covers approximately 80% of U.S. electric utility accounts.
“The company’s technology platform plays a vital role in decarbonizing real estate, the grid and providing renewable energy access to underserved communities.”J.P. Morgan Sustainable Growth Equity co-managing partner Tanya Barnes
It its latest funding round which was led by J.P. Morgan Asset Management (which marks the inaugural investment for its Sustainable Growth Equity Team) the startup raised $200 million which brings their total funding around $370 million.
Launched back in 2014, the company has become one of the top “community solar” projects. The current valuation of the company is around $1.5 billion.