Arcadia, a Washington, DC-based technology company enabling the global energy transition, announced that it raised $125 million in new funding.
The round was led by Magnetar Capital, with existing investor Keyframe Capital participating. Macquarie Asset Management's Green Investment Group also participated in the round.
The growth capital will support the continued development of Arcadia's game-changing Arc platform, and accelerate its industry-leading community solar business.
"Our platform is unlocking the big grid worldwide, providing simple APIs and software solutions for hundreds of the leading companies across electrification," said Kiran Bhatraju, founder and CEO of Arcadia. "Our customers are driving residential and commercial decarbonization through personalized energy solutions that couldn't exist without easy access to utility data, tariffs, and payments."
Arcadia is a personalization platform used by over 300 new energy companies to create customized energy products like auditable carbon accounting reports, optimized EV charging schedules, rooftop solar and storage proposal creation, and community solar savings on a single bill.
Eric Scheyer, Partner and Head of Energy and Infrastructure at Magnetar, will join the Arcadia Board of Directors.
Company: Arcadia Power, Inc.
Funding Month: December 2022
Lead Investors: Magnetar Capital
Additional Investors: Keyframe Capital and Green Investment Group
Company Website: https://www.arcadia.com/
Software Category: Personalized Energy Solutions
About the Company: Founded in 2014, Arcadia is a climate technology company enabling a zero-carbon economy. By unlocking high-fidelity, global energy data for the first time, the Arc platform combines easy-to-use data and APIs under one roof to allow any company to act on its environmental impact and build the next generation of energy products and climate tech solutions. Arc democratizes access to data from thousands of utility providers in 52 countries, covering more than 95% of US residential and commercial utility accounts. Arcadia also manages the nation's largest community solar portfolio, helping to tackle energy injustice while spurring economic growth with more than 1.3 GW of solar under management.