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- Uplight
Uplight Acquisition, Valuation, Funding & Investors
Uplight was acquired by Octopus Energy Group for $1.5B in March 2026.
Cumulative funding Uplight raised
$39M
across 2 funding rounds
Key investors in Uplight
About Uplight
Uplight is a Boulder-headquartered energy software provider formed in 2021 from mergers of Tendril, Simple Energy, FirstFuel, and EnergySavvy. The platform delivers customer engagement tools for utilities including demand response programs and energy efficiency analytics from smart meter data. Uplight serves over 100 North American utilities, managing 40 million customer accounts.
Founded
2019
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.5B (acquired Mar 2026)
Uplight Acquisition
Uplight was acquired by Octopus Energy Group for $1.5B on 23 March 2026.
Before the acquisition Uplight had raised $39M across 2 funding rounds.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 23 Mar 2026 | Strategic M&A | $1.5B |
Uplight Funding History
Uplight has raised a total of $39M across 2 funding rounds.
Uplight's first fundraising round was a $39M undisclosed-stage round in March 2025. The most recent completed round was a strategic investment round in March 2026.
Uplight funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2026 | Strategic investment | Schneider Electric | - | - |
| Mar 2025 | Undisclosed stage | - | $39M | Uplight develops software products focused on clean energy for utilities, enabling customer engagement, energy efficiency, and integration of distributed energy resources like EVs, batteries, and solar. Headquartered in Boulder, Colorado, the company positions itself as a technology partner for energy providers transitioning to clean energy ecosystems, acting as a connective layer for customer energy journeys. In March 2025, Uplight raised $30 million in a Series A round led by Coatue and Schneider Electric, with total funding listed as $30 million across sources, though other data mentions cumulative raises up to $232.19M or $189.19M over multiple rounds, including a $58M Convertible Note on March 28, 2025. Funds are intended for global SaaS platform expansion and grid-edge deployments. Prior to this, a March 2021 investment valued the company at $1.5 billion, led by Schneider Electric, AES, Huck Capital, Coatue, and Inclusive Capital Partners, supporting organic growth, M&A, and international expansion; Rubicon Technology Partners remained a minority investor. In 2020, Uplight reported operating profit with significant year-over-year ARR growth continuing into 2021, and its solutions saved users an estimated $390 million on energy bills through utility partners. The sustainable energy technology market is estimated at over $900 billion globally by Nomura Greentech Capital. Investors include Coatue, Schneider Electric, AES, Huck Capital, Rubicon Technology Partners, Orchard Ventures, and Top Down Ventures. Uplight competes with companies like Camus Energy and continues developments such as launching a Software Development Kit for DER integration in May 2025. |
Who has invested in Uplight?
1 investor has backed Uplight across its funding rounds, including Schneider Electric.
Uplight Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Uplight
Uplight has acquired 5 companies to date.
Last acquisition by Uplight was on December 14th 2023. Uplight acquired Autogrid for $52M.
Latest Acquisitions by Uplight
| Description | AutoGrid orchestrates distributed energy resources through analytics platforms from Redwood City, California. Originating at Stanford University in 2011, it processes smart meter data for utilities managing solar arrays, batteries, EV chargers, and demand response. Algorithms forecast flexibility and dispatch controls to stabilize grids amid renewables growth. | Agentis is a Chicago-based technology firm that equips utilities with platforms for business energy management. Its software analyzes utility data to help commercial customers optimize usage, cut costs, and gain competitive edges through demand response programs. The platform integrates with smart meters and building management systems for real-time insights. Agentis partners with utilities like ComEd and PG&E to deliver tailored solutions. Launched in 2010, the company focuses on deregulated energy markets across North America, enabling participants to reduce peak loads and participate in efficiency incentives. | Ecotagious is a Boston-based analytics firm transforming utility customer energy data into actionable savings insights. Partnering with US utilities, it deploys dashboards revealing appliance-level consumption patterns, driving 10-15% average reductions in household bills through personalized recommendations. | Tendril is a Boulder-headquartered energy software provider established in 2004. It delivers customer engagement platforms for utilities to manage demand response, electrification, and decarbonization programs. Solutions include residential thermostats, EV charging optimizers, and solar-plus-storage controls integrated with grid operators like PG&E and Xcel Energy. The cloud-based Residential Engagement Platform processes data from millions of devices, supporting time-of-use rates and rebate programs. Tendril serves over 100 utilities across North America, driving peak load reductions and customer satisfaction improvements. | |
| HQ Country | |||||
| HQ City | San Francisco, CA | Chicago, IL | Vancouver | Boulder, CO | |
| Deal Date | 14 Dec 2023 | 27 Oct 2021 | 6 Aug 2019 | 15 Jul 2019 | |
| Valuation | $52M | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Uplight acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Uplight Competitors
Uplight competitors include listed companies like Longshine Technology, Ygsoft, MBB and Pason Systems, and private ones like Neara and Aurora Solar.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $674M | $24M | $1.4B | 1.8x | ||
| Publicly listed | $387M | $71M | $1.5B | 3.9x | ||
| Publicly listed | $1.3B | $239M | $1B | 0.5x | ||
| Publicly listed | $300M | $93M | $809M | 2.5x | ||
| Private | - | - | $784M | - | ||
| Private | $100M | - | $4B | 40.0x |
Uplight Public Comps
Uplight is no longer listed, but its public comps include Romande Energie, Ygsoft, Kimbell Royalty Partners, Yinson, Navigator Gas, Aygaz, Friedrich Vorwerk Group, Longshine Technology, Gas Malaysia and North Atlantic Energies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $960M | $231M | 1.9x | 1.9x | 7.9x | 9.4x | |||
| $387M | $71M | 3.8x | 3.9x | 20.6x | 21.4x | |||
| $322M | $258M | 6.7x | 5.8x | 8.4x | 7.0x | |||
| $1.3B | $692M | 4.3x | 4.6x | 8.2x | 7.2x | |||
| $587M | $295M | 3.9x | 4.2x | 7.7x | 7.6x | |||
| $1.8B | $120M | 0.7x | 0.6x | 11.4x | 15.0x | |||
| $811M | $177M | 1.6x | 1.5x | 7.5x | 6.1x | |||
| $674M | $24M | 2.0x | 1.8x | 55.0x | 32.5x | |||
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Common questions about Uplight
| When was Uplight founded? | Uplight was founded in 2019. |
| Where is Uplight headquartered? | Uplight is headquartered in Boulder, CO, United States. |
| Is Uplight publicly listed? | No, Uplight was acquired by Octopus Energy Group in March 2026. |
| Who acquired Uplight? | Uplight was acquired by Octopus Energy Group in March 2026. |
| How much was Uplight acquired for? | Uplight was acquired for $1.5B in March 2026. |
| How much funding has Uplight raised? | Uplight has raised $39M across 2 funding rounds. |
| What was Uplight's last funding round? | Uplight's last funding round was a strategic investment round in March 2026. |
| Who are Uplight's investors? | Uplight's investors include Schneider Electric. |
| Which companies are comparable to Uplight? | Companies comparable to Uplight include Longshine Technology, Ygsoft, MBB, Pason Systems, Neara and Aurora Solar. |
| How many companies has Uplight acquired? | Uplight has acquired 5 companies, including Autogrid, Agentis, Ecotagious, Tendril and Simple Energy. |
| What was the largest acquisition by Uplight? | The $53M acquisition of Simple Energy in July 2019 is the largest acquisition Uplight has made to date. |
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