Tuesday, March 26, 2013

Choose Energy Gets $4M For Energy Marketplace

Plano-based Choose Energy, which operates an online energy marketplace which allows consumers to choose power suppliers, has raised $4M in a funding round, the firm announced this morning. The funding came from Kleiner Perkins Caufield & Byers and Stephens Capital. The firm said the funding will go towards accelerating growth, to grow its technology and marketing team, and expand its services. Choose Energy's website allows consumers to compare retail electricity plans and selects the plans they like based on term, price, and type; the firm is targeting markets, such as Texas, where electricity and natural gas has been regulated, and where consumers are allowed to select the source of their power directly from producers.