Tibber Funding, Investors & Competitors

Tibber has raised $144M across 5 funding rounds, most recently a $100M Series C in March 2022.

Last Tibber funding round

$100M

Series C · Mar 2022

Cumulative funding Tibber raised

$144M

across 5 funding rounds

Key investors in Tibber

  • Founders Fund
  • Eight Roads Ventures
  • Balderton Capital
  • Petter Stordalen
  • Altor
  • Summa Equity
  • Wellstreet
  • Schibsted

Tibber Overview

About Tibber

Tibber is a Oslo-headquartered digital electricity supplier launched in 2016, serving households in Norway, Sweden, and Germany with renewable energy, real-time usage analytics via app, and integrations for smart home devices and electric vehicles. The company balances Sweden's power grid using EVs and operates an online store for energy tech gadgets.


Founded

2016

HQ

NorwayFørde

Website

tibber.com

Status

Privately held

Customer focus

B2C

Revenue model

Usage-based

Tibber Funding History

Tibber has raised a total of $144M across 5 funding rounds, plus 1 secondary share sale.

Tibber's first fundraising round was a $800K seed round in October 2016. The most recent completed round was a $100M Series C in March 2022.

Tibber funding rounds

Tibber funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2022SecondaryAltor-Altor Fund V signed an agreement to acquire a minority stake in Norwegian smart energy provider Tibber by buying shares from existing shareholders, on the back of Tibber's USD 100 million Series C round in March 2022. Tibber had more than 400,000 household customers in Norway, Sweden and Germany and was expanding further into Europe. The investment fitted Altor's broader green transition portfolio alongside Vianode and Svea Solar.
Mar 2022Series CSumma Equity (lead); Balderton Capital; Schibsted; Eight Roads Ventures$100MTibber is a Norwegian smart energy platform founded in 2016 that empowers consumers to use energy smarter through a real-time analytics app integrated with smart home devices, enabling reduced consumption, shifting to cheaper renewable hours, and supporting grid stability via a virtual power plant. The company sells renewable energy at wholesale prices plus fees, generates revenue from membership fees, marketplaces for heat pumps and solar PV, and VPP services, and operates in markets including Norway, Sweden, Germany, and the Netherlands. In 2022, Tibber reported revenue of EUR 65 million and had 324 employees. Tibber's customers produced 64.6 GWh of solar power that year, up significantly from prior years, with 30% using the Tibber Pulse device for energy optimization; the company aims for 100% circularity in Pulse sales by repairing and reselling returns, as demonstrated by reselling 250 units in a 2022 campaign. On or around March 2022 (noted as 10/03/2022 in some contexts), Tibber raised approximately $100 million in a Series C round led by Summa Equity, with participation from Balderton Capital, Eight Roads Ventures, Schibsted, and others, bringing total funding over $170 million. This round supported European expansion, particularly in Germany, and growth in controllable energy load and solar-optimized customers. Summa Equity acquired its stake in 2022, aligning with the funding timeline. Tibber continued growth post-round, with later equity funding around NOK 250 million from existing investors including Balderton Capital, Eight Roads, Summa Equity, Founders Fund, and Schibsted, plus substantial debt financing up to NOK 1.75 billion, focused on disciplined market share gains in Germany. The company emphasizes impact, with 24% of 2022 power purchases covered by Guarantees of Origin and targets like 18.1% solar customer share by 2026.
Nov 2020Series BBalderton Capital (lead); Eight Roads Ventures (lead); Founders Fund$30M-
Mar 2019Series AFounders Fund (lead); Zachary Hargreaves$12MTibber is a Stockholm, Sweden and Oslo, Norway-based company providing a smart energy assistant via a mobile application that automatically switches power producers, controls consumption for a fixed price, and supports smart homes and electric vehicle charging. The company, founded in 2015 by Daniel Lindén and CEO Edgeir Aksnes, raised a $12 million Series A funding round on March 18-19, 2019, led by Founders Fund with participation from existing investors including Wellstreet, BKK, Petter Stordalen, and RFF Vest. Prior to this round, Tibber had raised $3-4 million. At the time of the Series A, Tibber had 40,000 clients with 25% using smart home features, 21 employees, and operations in Sweden, Norway, and Finland. The funding supported expansion into new markets like Germany, product development including smart charging for Tesla and hybrids that saves 20% on charging costs, and growth in the Nordics and Europe. All customer growth came from word of mouth.
Nov 2017SeedBKK (lead); Wellstreet; Petter Stordalen$2M-
Oct 2016SeedPetter Stordalen (lead)$800K-

Who has invested in Tibber?

10 investors have backed Tibber across its funding rounds, including Founders Fund, Eight Roads Ventures, Balderton Capital, Petter Stordalen, Altor and Summa Equity.

Lead investors include Summa Equity, Balderton Capital, Eight Roads Ventures, Founders Fund, BKK and 1 other investor.


Tibber Investors

Investors in Tibber by funding rounds participated
InvestorHQRoundsRoleFirst check
Petter StordalenNorwayOslo2LeadOct 2016
Balderton CapitalUnited KingdomLondon2LeadNov 2020
Founders FundUnited StatesSan Francisco, CA2LeadMar 2019
Eight Roads VenturesUnited KingdomLondon2LeadNov 2020
WellstreetSwedenStockholm1ParticipantNov 2017
Zachary HargreavesUnited StatesSan Francisco, CA1ParticipantMar 2019
SchibstedNorwayOslo1ParticipantMar 2022
BKKNorwayBergen1LeadNov 2017

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Tibber Competitors

Tibber competitors include listed companies like RWE, Sempra, E.ON and Naturgy Energy Group, and private ones like Slovensky plynarensky priemysel and Gridspertise.

Public and private companies comparable to Tibber
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RWEGermanyGermanyPublicly listed$20B$5.9B$54B4.3x
SempraUnited StatesUnited StatesPublicly listed$14B$5.1B$54B7.4x
E.ONGermanyGermanyPublicly listed$91B$9.9B$53B1.1x
Naturgy Energy GroupSpainSpainPublicly listed$22B$6.2B$32B2.1x
Slovensky plynarensky priemyselSlovakiaBratislavaPrivate$2.1B-$7B3.3x
GridspertiseItalyRomePrivate--$719M-

Tibber Public Comps

Tibber is still privately-owned, but its public comps include Meta, GE Vernova, Reliance Industries, NextEra Energy, Iberdrola, Siemens Energy, Enbridge, Enel, Southern Company and Constellation Energy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Meta$201B$104B8.8x7.4x17.0x12.7x
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
Reliance Industries$110B$20B1.9x1.7x10.4x10.3x
NextEra Energy$27B$16B10.5x9.6x17.9x16.2x
Iberdrola$51B$17B4.4x4.3x13.2x11.8x
Siemens Energy$45B$4.5B2.7x2.4x27.3x16.1x
Enbridge$47B$15B4.2x3.6x13.3x13.3x
Enel$78B$21B2.6x2.1x9.8x7.6x

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Common questions about Tibber

When was Tibber founded?Tibber was founded in 2016.
Where is Tibber headquartered?Tibber is headquartered in Førde, Norway.
Is Tibber publicly listed?No, Tibber is a private, VC-backed company.
How much funding has Tibber raised?Tibber has raised $144M across 5 funding rounds.
What was Tibber's last funding round?Tibber's last funding round was a $100M Series C in March 2022, led by Summa Equity.
Who are Tibber's investors?Tibber's investors include Petter Stordalen, Balderton Capital, Founders Fund, Eight Roads Ventures, Wellstreet, Zachary Hargreaves, Schibsted, BKK, Summa Equity and Altor.
Which companies are comparable to Tibber?Companies comparable to Tibber include RWE, Sempra, E.ON, Naturgy Energy Group, Slovensky plynarensky priemysel and Gridspertise.

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