HomeDecember 5, 2011
Power2Switch to Expand to New States in December
Copyright 2011 EnergyChoiceMatters.com.
Online broker Power2Switch announced that it has raised $1.3 million in capital allowing it to launch service in additional states this month.
"The close of this financing has enabled us to also accelerate our expansion into other states, as we launch our service in New York and Texas by mid-December 2011," said Seyi Fabode, CEO and co-founder of Power2Switch. Power2Switch is currently active in Illinois.
Power2Switch also recently applied for an Ohio broker license (11/8).
Power2Switch will also use the financing to hire additional employees and accelerate sales and marketing.
The investment round was led by OCA Ventures. Hyde Park Angels, New World Ventures and I2A, along with private investors, participated in the investment. In addition to Power2Switch co-founders Seyi Fabode and Phil Nevels, the company announced the appointment of Michael Polsky (Invenergy) and David Zyer (OCA Ventures) to its board of directors.
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