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Opower
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Short description

Developer of a software-as-a-service that utilizes customer engagement and billing analytics for utilities

Founded in 2007
Founded in

Company type Public Public ()
Company type

Industry Group energy & power

Sector energy services

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

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Headquarters Arlington, VA Arlington, United States
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Updated by Cleantech Group on 11/01/2022

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  • 1 M&A items
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Date Company
02/27/2014

Public Service of New Hampshire (PSNH) Public Service of New Hampshire (PSNH)

Confirmed by Public Service of New Hampshire (PSNH)
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Partnerships
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Date Partner Type
05/29/2020
National Grid National Grid
US utility National Grid has partnered with Oracle Utilities Opower to provide video energy reports to help consumers better understand their energy journey.
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Confirmed by National Grid
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Investment Rounds
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IPO INFORMATION

Date

04/04/2014

IPO status

Listed

IPO Type

IPO

Amount

$116M

Initial shares

6100000

Ticker symbol

Exchange listed

NYSE

Prospectus URL

Prospectus

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Description

Opower has tapped Morgan Stanley and Goldman Sachs Group to lead the underwriting of its IPO, for which it has filed confidentially under the new JOBS Act regulations. Update 3/24/2014: The company plans to raise $110 million by offering 6.1 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Opower would command a fully diluted market value of $993 million. Update 4/04/2014: Opower priced its shares at $19 per share and offered 6.1 million shares, totaling $116 million.

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Date Investors Type Amount
12/29/2010 New Enterprise Associates (NEA) New Enterprise Associates (NEA) , Kleiner Perkins Kleiner Perkins , Accel Partners Accel Partners (3)
Post-money valuation of
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Growth Equity $50,000,000
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Opower 5: Flex

Cloud-based enterprise software that utilities use to create energy efficiency reports, run demand response programs, and communicate with customers

 Wide Commercial Availability Service - Fixed Price
$/kW (current)
$/kW (projected)
$/kWh (current)
$/kWh (projected)
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