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- Utilidata
Utilidata Funding, Investors & Competitors
Utilidata has raised $135M across 4 funding rounds, most recently a $40M Series C in May 2026.
Last Utilidata funding round
$40M
Series C · May 2026
Cumulative funding Utilidata raised
$135M
across 4 funding rounds
Key investors in Utilidata
Keyframe Capital Partners
NVIDIA
Braemar Energy Ventures
MUUS
Renown Capital Partners
Moore Strategic Ventures
Microsoft Climate Innovation Fund
Quanta Services
About Utilidata
Utilidata is a grid edge technology company deploying open-source distributed AI to optimize electric distribution networks, accelerating decarbonization and improving customer service. Partnering with NVIDIA, it has developed the smart grid chip combining real-time grid optimization with accelerated computing to handle electrification and severe weather demands.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Utilidata Funding History
Utilidata has raised a total of $135M across 4 funding rounds.
Utilidata's first fundraising round was a $8M Series A in August 2020. The most recent completed round was a $40M Series C in May 2026.
Utilidata funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| May 2026 | Series C | Renown Capital Partners (lead); Keyframe Capital Partners | $40M | Utilidata raised $100 million in a Series C financing on May 28, 2026, with Renown Capital Partners leading the round and Keyframe Capital participating as an existing investor. The financing was completed through an initial tranche and a subsequent $40 million extension, bringing the total Series C to $100 million. The capital is intended to support the launch and scaling of Utilidata’s Karman platform in the data center market, with a focus on unlocking stranded compute capacity and improving power usage. The raise reflects investor interest in AI infrastructure and energy optimization software, and it extends Utilidata’s prior Series C financing announced in 2025. Utilidata is an Ann Arbor, Michigan-based company that develops dynamic power orchestration software for AI data centers and embedded AI for power infrastructure. Its platform has been positioned for data center deployment, and the company has described Karman as a power-optimization tool built in partnership with Nvidia. |
| Apr 2025 | Series C | Renown Capital Partners (lead); NVIDIA; Keyframe Capital Partners; Quanta Services | $60M | Utilidata is a Providence, Rhode Island-based energy technology company specializing in edge AI for digitizing the grid edge to optimize clean energy integration. Its patented real-time machine learning software enhances grid visibility, operations, anomaly detection, and distributed energy resource management. The company's distributed AI platform, Karman, developed in collaboration with NVIDIA using a custom NVIDIA Jetson Orin Nano module, embeds AI into devices like smart meters for real-time grid insights and efficiency. On April 29, 2025, Utilidata raised $60.3 million in a Series C funding round led by Renown Capital Partners, with participation from Quanta Services, NVIDIA, and existing investor Keyframe Capital Partners. Citigroup acted as the sole placement agent. The funds are earmarked to scale Karman amid converging megatrends like rising data center power demand and grid complexity. Karman provides utilities with real-time visibility, resiliency enhancements, and capacity optimization without major infrastructure overhauls, claiming 100 times the processing power of competing meter-based solutions. Post-round, Karman became available via Advantech, with partnerships including Deloitte for grid navigation support and Quanta for AI-enabled infrastructure deployment. Investors highlighted Utilidata's role in addressing electricity scarcity and unpredictability through edge AI, enabling smarter decisions and dynamic energy systems. Renown Capital, a growth-stage energy tech investor spun out from Moore Capital Management with $250 million in anchor capital, views Utilidata as central to global energy infrastructure resilience and efficiency. |
| Feb 2022 | Series B | Moore Strategic Ventures (lead); NVIDIA; Keyframe Capital Partners; MUUS; Braemar Energy Ventures; Microsoft Climate Innovation Fund | $27M | Utilidata is an energy technology company specializing in grid-edge software and edge AI solutions to optimize the electric grid, integrate distributed energy resources, detect anomalies, and enhance visibility using real-time machine learning from smart meters and grid devices. The company, headquartered in Providence, Rhode Island, develops the Karman platform powered by a custom NVIDIA module for embedding AI into grid-connected infrastructure. In February 2022, Utilidata raised $26.75 million in a funding round from investors including Moore Strategic Ventures (lead), Braemar Energy Ventures, Keyframe Capital Partners, Microsoft Climate Innovation Fund, MUUS, and NVIDIA, aimed at accelerating the clean energy transition. Subsequent developments include a June 2024 collaboration with Deloitte for AI-driven grid solutions and a Series C round of $60.3 million in April 2025 led by Renown Capital with participation from Quanta Services, Keyframe Capital, and NVIDIA to scale the Karman platform globally. Utilidata's technology addresses grid challenges from renewables, electrification, and data center demand by providing real-time control and efficiency. The company has grown to 51-200 employees and focuses on partnerships to deploy AI at grid edge for utilities facing increased load growth and unpredictability. |
| Aug 2020 | Series A | Keyframe Capital Partners (lead); American Electric Power; MUUS; Braemar Energy Ventures | $8M | Utilidata is a grid-edge optimization software company providing real-time data and analytics solutions for the electric distribution grid. The company's patented machine learning software leverages smart meter data to detect anomalies, optimize grid operations, and integrate distributed energy resources including solar, storage, and electric vehicles. In August 2020, Utilidata closed a $8.25 million Series C funding round led by Keyframe Capital, with participation from MUUS Asset Management and existing investors Braemar Energy Ventures and American Electric Power. The capital was deployed to accelerate development of the company's meter-based software solutions and expand market reach. Utilidata had demonstrated significant traction with major utilities including National Grid and American Electric Power as customers prior to the round. |
Who has invested in Utilidata?
9 investors have backed Utilidata across its funding rounds, including Keyframe Capital Partners, NVIDIA, Braemar Energy Ventures, MUUS, Renown Capital Partners and Moore Strategic Ventures.
Lead investors include Renown Capital Partners, Moore Strategic Ventures and Keyframe Capital Partners.
Utilidata Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Aug 2020 | ||
| 2 | Participant | Feb 2022 | ||
| 2 | Lead | Apr 2025 | ||
| 2 | Participant | Aug 2020 | ||
| 2 | Participant | Aug 2020 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 9 Utilidata investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialUtilidata Competitors
Utilidata competitors include listed companies like SAP, Snowflake and Nebius Group, and private ones like Anthropic, OpenAI and Databricks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x | ||
| Publicly listed | $42B | $13B | $248B | 5.4x | ||
| Private | $7B | - | $190B | 27.1x | ||
| Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x | ||
| Publicly listed | $530M | $512M | $59B | 24.2x |
Utilidata Public Comps
Utilidata is still privately-owned, but its public comps include CrowdStrike, SAP, GE Vernova, Salesforce, Reliance Industries, NextEra Energy, Iberdrola, ServiceNow, Siemens Energy and Snowflake.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $38B | $3.2B | 6.2x | 5.4x | 73.5x | 43.5x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $110B | $20B | 1.9x | 1.7x | 10.4x | 10.3x | |||
| $27B | $16B | 10.5x | 9.6x | 17.9x | 16.2x | |||
| $51B | $17B | 4.4x | 4.3x | 13.2x | 11.8x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
This data is available for Pro users. Sign up to see all Utilidata competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Utilidata
| When was Utilidata founded? | Utilidata was founded in 2012. |
| Where is Utilidata headquartered? | Utilidata is headquartered in Providence, RI, United States. |
| Is Utilidata publicly listed? | No, Utilidata is a private, VC-backed company. |
| How much funding has Utilidata raised? | Utilidata has raised $135M across 4 funding rounds. |
| What was Utilidata's last funding round? | Utilidata's last funding round was a $40M Series C in May 2026, led by Renown Capital Partners. |
| Who are Utilidata's investors? | Utilidata's investors include Keyframe Capital Partners, NVIDIA, Renown Capital Partners, MUUS, Braemar Energy Ventures, American Electric Power, Microsoft Climate Innovation Fund, Quanta Services and Moore Strategic Ventures. |
| Which companies are comparable to Utilidata? | Companies comparable to Utilidata include Anthropic, OpenAI, SAP, Databricks, Snowflake and Nebius Group. |
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