Span Valuation, Funding & Investors

Span is valued at $1B as of January 2026.

See full Span profile

Last Span valuation

$1B

Undisclosed stage · Jan 2026

Last Span funding round

$75M

Strategic investment · Mar 2026

Cumulative funding Span raised

$468M

across 8 funding rounds

Key investors in Span

  • Congruent Ventures
  • HCVC
  • Wellington Management
  • Amazon
  • Fifth Wall
  • Ulu Ventures

Span Overview

About Span

Span is a smart home energy management company producing intelligent electrical panels. Its devices enable circuit-level monitoring, EV charging scheduling, and solar integration via app controls. Installed in residences across California, Span panels distribute power dynamically during outages. San Francisco-headquartered, the firm partners with Tesla Powerwall and Generac generators.


Founded

2018

HQ

United StatesSan Francisco, CA

Website

span.io

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$1B (Jan 2026)

Span Valuation

Span is currently valued at $1B, based on its undisclosed-stage round in January 2026.

Span's valuation has grown 1.7x from $600M at its Series B in March 2023 to $1B in January 2026, across 2 priced rounds.

Span valuation by funding round

Span valuation by funding round
DateStageValuation
Jan 2026Undisclosed stage$1B
Mar 2023Series B$600M

Span Funding History

Span has raised a total of $468M across 8 funding rounds.

Span's first fundraising round was a $4M seed round in December 2018. The most recent completed round was a $75M strategic investment round in March 2026.

Span funding rounds

Span funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2026Strategic investmentEaton (lead)$75M--
Jan 2026Undisclosed stage-$163M$1BSpan is a San Francisco-based energy technology company that develops smart electrical panels and EV chargers for residential and utility customers. The company's flagship product is a smart panel priced starting at $2,550 that allows homeowners to monitor and control their energy use in real time through a mobile app. In its Series C round closed on January 27, 2026, Span raised $163 million in equity, with the total round reaching approximately $176 million according to SEC filings. The company achieved a valuation exceeding $1 billion, making it a unicorn. Span has strategically pivoted from focusing primarily on home electrification to serving utility customers addressing load growth and infrastructure constraints. The company participated in PG&E's virtual power plant pilot, managing coordination of 400 smart panels in individual homes alongside 1,500 residential batteries. Span maintains dual business lines serving both residential customers and utility clients, positioning itself at the intersection of load growth and the energy transition, particularly targeting markets with aggressive decarbonization timelines like California.
Nov 2025Seed---Span is a San Francisco-based AI-native developer intelligence platform that unifies signals from code repositories, tickets, incidents, and development tools to provide engineering teams with holistic visibility into workflow, productivity, and team health. It combines metrics, surveys, and behavioral context to reveal the impact of work and AI-assisted coding, automating tasks like writing updates, attributing R&D for tax credits, and searching for answers. Span partners with companies including Ramp, Vanta, Carvana, Intercom, Braze, Writer, URBN, and ClassPass. Span secured $25 million in combined Seed and Series A funding in November 2025. Investors included Alt Capital, Craft Ventures, SV Angel, BoxGroup, Bling Capital, and over 100 founders, CTOs, and operators from companies such as Slack, Notion, Rippling, and Square. The company plans to use the proceeds to expand capabilities for measuring AI-augmented development ROI and answering complex questions about engineering teams and codebases quickly.
Mar 2023Series BWellington Management (lead); Qualcomm Ventures; Amazon; Fifth Wall; Munich Re Ventures; Congruent Ventures; noa; Capricorn Investment Group$96M$600M-
Jan 2022Series BFifth Wall (lead); Wellington Management (lead); FootPrint Coalition; Obsidian Investment Partners; Angeleno Group; Congruent Ventures; noa$90M-Span is a smart electrical panel company targeting residential electrification and utility infrastructure for load growth management during the energy transition. It enables real-time monitoring and control of energy use via a mobile app, with products starting at $2,550, and has shifted focus to utilities in high-decarbonization areas like California to avoid costly grid expansions. Previous investors include Wellington Management and Fifth Wall, matching the queried round's participants. The queried January 2022 funding round, involving Angeleno Group, Congruent Ventures, Fifth Wall (lead), FootPrint Coalition, noa, Obsidian Investment Partners, and Wellington Management (lead). Prior to later rounds, Span had raised over $200 million total by early 2025. In 2025, Span raised a Series C of approximately $176 million ($163 million equity sold), with at least 15 investors, amid expansion into utility partnerships like pilots with PG&E and Sunrun for distributed energy resource aggregation. The company maintained residential lines despite slowing solar and EV markets.
Jan 2021Series AMunich Re Ventures (lead); Amazon; HCVC; Romain Afflelou; Congruent Ventures$30M-Span is a smart home energy startup offering an AI-powered Smart Panel, a next-generation electrical panel that provides detailed monitoring, control, and optimization of home energy usage to promote efficiency and adoption of clean energy sources like solar, EVs, and batteries. The panel integrates directly into the home's electrical system, enabling real-time circuit adjustments via a smartphone app and now Alexa voice controls following the funding announcement. Span began shipping the Smart Panel to customers in summer 2020. On approximately January 26, 2021, Span raised $20 million in a funding round led by Munich Re Ventures (via its HSB Fund), with participation from Amazon Alexa Fund and existing investors including Congruent Ventures. The investors align with Span's vision for home electrification and sustainable energy. The funds were intended to expand product reach to more homeowners and develop new offerings. Span's CEO Arch Rao emphasized the decade's focus on home electrification and accelerating clean energy adoption, noting the new investors' support for innovation in energy and home services markets. Munich Re Ventures highlighted Span's role in closing the digital gap, improving customer experience, and advancing sustainable energy use. Amazon Alexa Fund saw Span's technology as key for smart home innovation. This round preceded larger raises, such as a $96.5M Series B2 in 2023 led by Wellington Management, involving many of the same investors like Congruent Ventures, Munich Re Ventures, and Amazon Alexa Fund, bringing total funding to $231M. By 2022, Span reported nearly 600% revenue growth, products installed in 47 U.S. states, and 80% of owners adopting clean energy products.
May 2020Series AArcTern Ventures (lead); Elemental Impact (lead); Ulu Ventures; Wells Fargo Strategic Capital; HCVC; AA Sons; Earth Foundry; Congruent Ventures; Capricorn Investment Group; Wireframe Ventures; 1/0 Capital; Incite.org$10M--
Dec 2018SeedWireframe Ventures (lead); Ulu Ventures; Wells Fargo Strategic Capital; HCVC; Earth Foundry; Congruent Ventures; 1/0 Capital$4M--

Who has invested in Span?

23 investors have backed Span across its funding rounds, including Congruent Ventures, HCVC, Wellington Management, Amazon, Fifth Wall and Ulu Ventures.

Lead investors include Eaton, Wellington Management, Fifth Wall, Munich Re Ventures, ArcTern Ventures and 2 other investors.


Span Investors

Investors in Span by funding rounds participated
InvestorHQRoundsRoleFirst check
Congruent VenturesUnited StatesSan Francisco, CA5ParticipantDec 2018
HCVCFranceParis3ParticipantDec 2018
Wellington ManagementUnited StatesBoston, MA2LeadJan 2022
Ulu VenturesUnited StatesSan Francisco, CA2ParticipantDec 2018
AmazonUnited StatesSeattle, WA2ParticipantJan 2021
Wells Fargo Strategic CapitalUnited StatesSan Francisco, CA2ParticipantDec 2018
Earth FoundryUnited StatesChicago, IL2ParticipantDec 2018
Fifth WallUnited StatesLos Angeles, CA2LeadJan 2022
Munich Re VenturesUnited StatesSan Francisco, CA2LeadJan 2021
noaUnited KingdomLondon2ParticipantJan 2022
Capricorn Investment GroupUnited StatesSan Francisco, CA2ParticipantMay 2020
Wireframe VenturesUnited StatesSan Francisco, CA2LeadDec 2018
1/0 CapitalUnited StatesUnited States2ParticipantDec 2018

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Span Competitors

Span competitors include listed companies like SP New Energy and Changgao Electric Group, and private ones like Ample, Ohmium, Palmetto and Chint New Energy.

Public and private companies comparable to Span
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AmpleUnited StatesSan Francisco, CAPrivate--$1B-
OhmiumUnited StatesLake Tahoe, NVPrivate--$1B-
PalmettoUnited StatesCharleston, SCPrivate--$1B-
Chint New EnergyChinaHangzhouPrivate--$1B-
SP New EnergyPhilippinesPhilippinesPublicly listed$25M($46M)$958M-
Changgao Electric GroupChinaChinaPublicly listed$248M$69M$1.1B3.0x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Al-Babtain Power & Telecom$762M$162M1.5x1.4x7.0x6.0x
Greencoat Renewables($45M)($8M)(51.9x)24.4x(278.9x)24.6x
Henan Yicheng New Energy$527M($30M)3.0x-(53.0x)-
SP New Energy$25M($46M)103.1x-(55.4x)-
Power Solutions International$722M$115M1.5x1.6x9.7x10.5x
Forum Energy Technologies$791M$69M1.4x1.3x16.6x10.3x
Indian Energy Exchange$64M$63M14.1x13.3x14.3x15.7x
XPLR Infrastructure$1.2B$607M11.8x10.7x23.0x-

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Common questions about Span

When was Span founded?Span was founded in 2018.
Where is Span headquartered?Span is headquartered in San Francisco, CA, United States.
Is Span publicly listed?No, Span is a private, VC-backed company.
What is Span's valuation?Span was last valued at $1B in its undisclosed-stage round in January 2026.
How much funding has Span raised?Span has raised $468M across 8 funding rounds.
What was Span's last funding round?Span's last funding round was a $75M strategic investment round in March 2026, led by Eaton.
Who are Span's investors?Span's investors include Congruent Ventures, HCVC, Wellington Management, Ulu Ventures, Amazon, Wells Fargo Strategic Capital, Earth Foundry, Fifth Wall, Munich Re Ventures, noa and 13 others.
Which companies are comparable to Span?Companies comparable to Span include Ample, Ohmium, Palmetto, Chint New Energy, SP New Energy and Changgao Electric Group.

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