Internet technology provider Google has joined energy utilities Exelon and Avista and oil and gas producers Equinor and TotalEnergies in a $35m series C round for US-based energy transition software provider LevelTen Energy.
The round was led by Energy Technology Partners, an affiliate of private equity firm NGP, and included My Climate Journey Collective, Founders’ Co-op, Prelude Ventures, Techstars, Wireframe Ventures and all the company’s existing investors.
Equinor, TotalEnergies, Exelon and Avista participated in the series C financing through subsidiaries Equinor Ventures, TotalEnergies Ventures, Constellation Technology Ventures and Avista Development respectively.
Founded in 2016, LevelTen has built an online platform that connects renewable energy buyers, sellers and advisers, and its LevelTen Energy Marketplace platform allows users to access more than 4,000 power purchase agreement (PPA) price offers.
The capital injection will enable the company to scale its technology platforms and introduce new software products. It also intends to invest in more advanced PPA products, real-time load matching technology, project developer services and environmental and social justice scoring systems.
Prelude Ventures led LevelTen’s $20.5m series B round, in June 2019, which was backed by Equinor Ventures, TotalEnergies Ventures, Constellation Technology Ventures, Avista Development, Energy Ventures, Element 8 Fund, Founders’ Co-op, Techstars Ventures and Wireframe Ventures.
LevelTen had secured $6.8m to close a 2017 series A round that included Avista Development, Wireframe Ventures, Prelude Ventures, Founders’ Co-Op, Element 8 and Techstars Ventures.