Update: Comcast Ventures Cites Potential To "Lean On" Comcast's Assets In Helping Start-up Retail Provider Accelerate Growth (REP Is Recipient Of Comcast Ventures Seed Funding)

Comcast Ventures, which as first reported by EnergyChoiceMatters.com earlier this month led a $4.5 million seed round of financing into Branch Energy, said that it can "lean on" Comcast's assets in achieving growth at Branch Energy

Adam Spivack, Principal, Comcast Ventures, stated, "One of the core criteria in evaluating investments for Comcast Ventures is whether we feel we can provide value over and above our check. We think Branch Energy can lean on Comcast’s assets to accelerate through distribution and using aggregated energy use data to identify the types of homes that could be a fit for smart home offerings."

Spivack also cited the Texas winter weather event as an opportunity for new market entrants

"This black swan event highlights a unique moment when millions of Americans are reevaluating their utility providers, and an ideal time for a new provider to step up and earn market share," Spivack said

Spivack also said of the Texas weather event that, "This made it even clearer that the deregulated energy market needs a trusted energy brand with transparent pricing."

"Options for electricity in deregulated energy markets can be overwhelming and most energy companies score low on customer NPS. Branch Energy sets themselves apart by being more than a renewable energy provider. They are champions for intelligent energy management, leveraging smart home technology and analytics to help customers save on bills and reduce power consumption, all while building a trusted consumer brand," Spivack said

Branch Energy's creation by several retail energy market veterans had been exclusively first reported by EnergyChoiceMatters.com last year. See our prior story for more details on its leadership and business strategy