Cloud Powered Energy Analytics Software Provider, Bidgely Secured $8M Funding

 In Intelligence, Energy

Bidgely, a California based cloud-pow­ered energy ana­lyt­ics soft­ware provider, has now secured $8 mil­lion in growth cap­i­tal fund­ing.

Bidgely is found­ed by the Abhay Gupta in the year 2011. The com­pa­ny offers AI solu­tions to trans­form util­i­ty meter data into busi­ness intel­li­gence for energy and util­i­ty retail­ers who seek to under­stand their clients. 

Executive Opinion

Amy Olah, Executive Director in CIBC Innovation Banking’s Toronto office, said, “Bidgely has ingrained itself as a trust­ed busi­ness intel­li­gence part­ner in the util­i­ty and energy sector. Their dig­i­tal resilience has been ampli­fied during the ongo­ing pan­dem­ic with retail­ers lean­ing heav­i­ly on their abil­i­ty to remote­ly under­stand and con­nect with cus­tomers.”
Bidgely’s Chief Executive Officer, Abhay Gupta, said, “Bidgely’s UtilityAI plat­form pro­vides solu­tions that hyper-per­son­al­ize cus­tomer engage­ment across a utility’s orga­ni­za­tion, such as cus­tomer call cen­tres, data ana­lyt­ics and inte­grat­ed mar­ket­places. In 2020, we fur­ther expand­ed our port­fo­lio to include elec­tri­fi­ca­tion and elec­tric vehi­cles, small-medium busi­ness and com­mer­cial cus­tomer seg­ments. The invest­ment from CIBC Innovation Banking is an impor­tant step that allows us to scale go-to-market oper­a­tions glob­al­ly while con­tin­u­ing to accel­er­ate the devel­op­ment of our UtilityAI plat­form.”

Bidgely’s latest funding

The fund­ing was pro­vid­ed by the CIBC Innovation Banking. The com­pa­ny, as of now, works with more than 25 util­i­ties in energy retail­ers across the globe and is led by the Khosla Ventures and Georgian Partners. To date, the com­pa­ny has secured a total of  $51.6M in fund­ing four fund­ing rounds, according to CrunchBase.

The com­pa­ny, as of now, has plans to use the new funds to accel­er­ate its growth plans across North America, Asia, and Europe.

PC: Pablo, Pixabay

TechSutram source|articles

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