GridX, a Milpitas, CA-based enterprise rate platform provider to modern utilities and energy technology companies, closed a $40m Series C funding.
The round was led by Energy Impact Partners (EIP), with participation from Moore Strategic Ventures (MSV), Sunfox Capital and NGP ETP. In conjunction with the funding, Hunter Horgan of MSV, joined GridX’ board of directors.
The company intends to use the funds to continue to expand operations and its business reach.
Led by newly appointed CEO Chris Black, GridX partners with utilities and energy suppliers to transform their businesses and accelerate the clean energy transition. The company’s Enterprise Rate Platform helps these organizations to develop new products and business models to achieve their clean energy goals; operationalize new offerings in their billing and settlement processes; and engage with their customers for broader program adoption.
Today, GridX works with some of the most innovative utilities and retail energy suppliers across North America, including Pacific Gas and Electric Company, Southern California Edison, PSEG Long Island, and Consumers Energy, to serve more than 19 million homes and businesses.