TrueMeter, a San Francisco, CA-based AI-powered platform for automating energy savings for multi-location businesses, has raised $4 million in seed funding, bringing its total funding to over $5.5 million.
Investors
The round was led by Ulu Ventures, with participation from Pear VC, e2.vc, RiverPark Ventures, Flex Capital, Sarah Smith Fund, Cyan Ventures, Costanoa, Sand Hill Angels, and others.
Founded in 2008, Ulu Ventures is a venture capital firm that invests in pre-seed to post-seed rounds in U.S.-based startups. It focuses on enterprise software, fintech, edtech, future-of-work, blockchain, and digital health, while remaining open to sustainability and emerging technologies. As of 2025, Ulu manages over $400 million in assets and has funded more than 200 companies.
TrueMeter Use of Funds
The company will use the funding to expand its engineering team, enhance its AI-powered energy savings platform, and scale to serve additional multi-location businesses.
About TrueMeter
Founded in 2024 by Ali Sarilgan and Dr. Ozge Islegen-Wojdyla, TrueMeter is an AI-powered platform designed to optimize energy costs for multi-location businesses. It combines automated rate optimization, real-time operational intelligence, and consolidated billing management. The company’s end-to-end solution includes rate optimization, consolidated billing, predictive analytics, and operational insights for restaurants, retailers, and hospitality businesses. Headquartered in San Francisco, California, TrueMeter serves customers such as Yoshinoya, Fresh Direct, Studio, Misfits Markets, and Local Kitchens.
Funding Details
Company: TrueMeter, Inc.
Raised: $4.0M
Round: Seed
Funding Date: September 2025
Lead Investor: Ulu Ventures
Additional Investors: Pear VC, e2.vc, RiverPark Ventures, Flex Capital, Sarah Smith Fund, Cyan Ventures, Costanoa, Sand Hill Angels
Company Website: https://truemeter.com/
Software Category: AI Energy Management / Commercial Energy Optimization
Source: https://www.businesswire.com/news/home/20250910439827/en/