Seattle startup EnergySavvy acquired by utility software firm Tendril – GeekWire
Seattle-based EnergySavvy has been acquired by Tendril, a Boulder, Colo. firm that provides software and analytics to electric and gas utilities.
Terms of the deal were not disclosed. EnergySavvy’s team of more than 60 employees will not relocate under the acquisition. The company has offices in Seattle and Boston. EnergySavvy will retain its distinct brand under the Tendril umbrella.
EnergySavvy is an 11-year-old startup with a suite of products that help utilities manage their relationships with customers. Aaron Goldfeder left a role at Microsoft to co-found the company in 2008.
In 2016, EnergySavvy announced a $14 million round of equity financing, bringing its total funding to $30 million. At the time, EnergySavvy had about 40 utility customers, including Seattle City Light, Minnesota Energy Resources, New Mexico Gas Company, and others.
Using EnergySavvy, utilities can provide personalized electricity plans for customers, accounting for changes in the industry like the growing popularity of rooftop solar panels.
“Teaming up with Tendril creates a platform that unites all residential utility customer data, analytics and insights in one place,” Goldfeder said in a statement.
Prior to the acquisition, EnergySavvy was ranked No. 110 on the GeekWire 200, our index of top Pacific Northwest startups.