Choose Energy Inc. Closes $4M Series A Investment, Funds Will Support Geographic Growth, Additional Services

Choose Energy, Inc. announced that it has received a Series A fundraising round from Kleiner Perkins Caufield & Byers (KPCB) and Stephens Capital Partners.

The capital will be used to accelerate growth, supplement the technology and marketing team, and expand the scope of services for retail energy suppliers.

Specifically, Choose Energy will offer services to suppliers to support their customer acquisition, offer creation, customer enrollment, and ongoing relationship management. Much of these services will be leveraging the existing Choose Energy platform and services and making them available to retail providers under a white label.

In particular, Choose Energy will offer retail providers information on what products are successfully leading to enrollments, broken down by zip code and other metrics. Among other analytics, Choose Energy noted while a range of plans is offered on the site, more than 40% of Choose's customers have selected 100% green power plans.

Choose Energy said that it has helped more than 100,000 consumers find and enroll with a new electricity supplier. Currently active in Texas, New York, Ohio, Pennsylvania and Illinois, the company plans to enter all 19 deregulated energy states and 22 deregulated natural gas states, which combined represent $250 billion of annual spend in the U.S.