Cloud Computing Outlook

Bidgely Receives $8 Million Financing from CIBC Innovation Banking to Accelerate Growth across Asia, Europe, and North America

By Cloud Computing Outlook | Monday, September 28, 2020

From smart thermostats to EV chargers, solar PVs, or personalized / ToU tariffs, UtilityAI recommends new value-added products and services to the right customer at the right time

FREMONT, CA: Bidgely, a Mountain View, California, cloud-based energy analytics software provider, received $8 million in growth capital financing. CIBC Innovation Banking provided the financing. The funding will allow the company to accelerate its growth plans across Asia, Europe, and North America.

Led by Chief Executive Officer Abhay Gupta, Bidgely uses artificial intelligence (AI) solutions to transform utility meter data into business intelligence for utilities and energy retailers who seek to understand their customers. Retailers can leverage the augmented insights to personalize acquisition strategies and customer engagement, optimize retention, and modernize grid operations.

Powered by patented technology, Bidgely’s UtilityAI Platform transforms multiple customer data dimensions such as energy consumption, demographics, and interactions into deeply accurate and actionable consumer energy insights. The company takes advantage of these insights to empower each customer with personalized recommendations tailored to their personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond.

Bidgely, which works with over 25 utilities and energy retailers across the globe, is backed by Georgian Partners and Khosla Ventures and strategic investing utilities like E.ON, Innogy, and Constellation Technology Ventures.

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