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§ Private Profile · Arlington, VA, USA
Opower is a technology company.
Opower has raised $66.0M across 3 funding rounds.
Key people at Opower.
Opower has raised $66.0M in total across 3 funding rounds.
Opower provides a software-as-a-service customer engagement platform tailored for utility companies. This platform utilizes advanced statistical algorithms and pattern recognition to analyze energy consumption data, offering functionalities like demand-side management, connected home engagement, and peak load shaping. Its core technical approach integrates behavioral science principles to influence energy-saving actions among end-users without requiring in-home device installations.
The company was founded in 2007 by Harvard graduates Dan Yates and Alex Laskey. Their entrepreneurial insight stemmed from a realization that the energy market, while focused on new technologies, could be significantly disrupted by applying information services and behavioral psychology. Laskey’s exposure to Robert B. Cialdini’s work on persuasion, particularly the concept of social proof, inspired the development of detailed home-energy reports designed to motivate consumers toward greater efficiency.
Now operating as a key component of Oracle Utilities, Opower serves a global clientele of utilities. The company's offerings empower these utilities to engage customers more effectively, drive energy efficiency, and facilitate demand management through data-driven insights and personalized communications. Opower's overarching vision is to foster a more sustainable energy future by helping consumers understand and optimize their energy usage.
Key people at Opower.
Opower is a technology company that provides a software-as-a-service (SaaS) customer engagement platform specifically designed for utility companies. Its core product suite leverages data analytics and behavioral science to help utilities engage their customers in energy efficiency programs, smart grid initiatives, and new rate structures. Opower serves utility companies and their customers by delivering personalized energy reports and digital engagement tools that motivate consumers to reduce energy consumption, thereby supporting utilities’ goals for energy savings, customer satisfaction, and cost reduction. The platform is used by over 175 utilities worldwide, serving more than 50 million households across multiple countries, and has helped utilities achieve significant energy efficiency gains and carbon emissions reductions[1][2][3][6].
Founded in 2007, Opower was created by a team of entrepreneurs who recognized the potential of combining data analytics with behavioral science to transform how utilities interact with their customers. The company’s initial breakthrough was the development of detailed home-energy reports that compared a customer’s energy use to that of their neighbors, using behavioral nudges like smiley-face emoticons to encourage energy savings. Early traction came from utility partners adopting these reports, which demonstrated measurable reductions in energy consumption and increased customer engagement. Opower grew rapidly with venture capital backing from firms like Accel Partners and Kleiner Perkins, and in 2016 it was acquired by Oracle Corporation, becoming part of Oracle Utilities[2][3].
Opower rides the wave of digital transformation in the energy sector, particularly the shift toward smart grids and data-driven utility management. The timing is critical as utilities face increasing regulatory pressure to reduce carbon emissions and improve energy efficiency while maintaining customer satisfaction. Opower’s platform leverages AI and behavioral science to empower consumers and utilities alike, enabling a more interactive and efficient energy ecosystem. By facilitating demand response, load shifting, and personalized energy management, Opower influences the broader energy transition toward decarbonization and sustainability. Its role also extends to enhancing equity and affordability in energy access through targeted customer engagement[5][6].
Looking ahead, Opower is positioned to deepen its impact by expanding its AI capabilities and integrating more real-time data sources, such as solar generation and IoT devices, to provide even more granular and actionable insights. As utilities increasingly adopt decarbonization goals and smart grid technologies, Opower’s platform will likely become more central to utility customer engagement strategies. Trends such as electrification, distributed energy resources, and regulatory emphasis on customer-centric energy solutions will shape Opower’s evolution. Its influence is expected to grow as it helps utilities navigate complex energy transitions while maintaining strong customer relationships and driving meaningful energy savings[4][6].
In summary, Opower has transformed utility-customer relationships by harnessing data and behavioral science to promote energy efficiency at scale, and it continues to evolve as a key enabler of the smart, sustainable energy future.
Opower has raised $66.0M across 3 funding rounds. Most recently, it raised $50.0M Series C in November 2010.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2010 | $50M Series C | Accel, Kleiner Perkins | Bessemer Venture Partners, Decibel Partners, Simon Equity Partners LLC, NEW Enterprise Associates | Announced |
| Dec 1, 2008 | $14M Series B | — | Decibel Partners | Announced |
| Jul 1, 2007 | $2M Series A | — | Kevin Hartz, Greylock, Lightspeed Venture Partners, NEO, Hadi Partovi | Announced |
Opower has raised $66.0M in total across 3 funding rounds.
Opower's investors include Accel, Kleiner Perkins, Bessemer Venture Partners, Decibel Partners, Simon Equity Partners LLC, New Enterprise Associates, Kevin Hartz, Greylock, Lightspeed Venture Partners, NEO, Hadi Partovi.