About Powerit Solutions
Powerit Solutions is a Business Services company based in Seattle (United States) founded in 2006, and was acquired by Customized Energy Solutions in January 2016. Demand response platforms are provided for utility-customer demand management. It operates in the Business Services, Energy & Utilities, and Technology sectors. Powerit Solutions has raised $26.19 million across 5 funding rounds from investors including ArcelorMittal, Black Coral Capital and Ventures. The company has 22 employees. Its focus areas include High Tech, IoT Applications, Industry Specific and Energy. Its legal entity is Powerit Solutions LLC. Its competitors include Enel X, Particle and Span.IO; 3 of its 3 listed competitors have raised funding.
Company details
Powerit solutions provides web interface platform to connect Utility, Distributions with customer for demand management. Their products include Spara DM ,that makes adjustment for demand reduction in connected loads, Spara Hub which send the data into cloud which can be accessed at remote location, Spara Demand Diagnostics, an analytical tool that allows its partners and customers to determine potential demand management savings.
- Headquarters Seattle, United States
- Employees 22
- Stage Acquired
- SectorsBusiness ServicesEnergy & Utilities Technology
- Website poweritsolutions.com
- Social LinkedIn X Facebook
- Acquired by Customized Energy Solutions (Jan 2016)
- Legal Name Powerit Solutions Llc
- Total Equity Funding$26.19M (USD)
in 5 rounds
- Latest Funding Round$1M (USD), Series C
May 2014
- InvestorsArcelorMittal
& 6 more
- Employee Count22
- Acquired byCustomized Energy Solutions
(Jan 2016)
Funding Insights of Powerit Solutions
Powerit Solutions has successfully raised a total of $26.19M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $1 million completed in May 2014. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $26.19M
- Total Rounds 5
- Last Round Series C — $1M
- First Round $7.1M
(May 2007)
- Investors Count 6
All 5 funding rounds of Powerit Solutions with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2014 | $1M | Series C | – | – | – |
| Jul 2013 | $7.09M | Series C | – | Black Coral Capital | – |
| Mar 2011 | $5M | Series B | – | – | |
| May 2009 | $6M | Series B | – | ArcelorMittal, Next47 | |
| May 2007 | $7.1M | Series A | – | – |
7 investors in total: 7 institutional.
Investors in Powerit Solutions
Powerit Solutions has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include ArcelorMittal, Black Coral Capital and Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Black Coral Capital is focused on cleantech market investments. | blackcoralcapital.com | Boston, USA | ||
| ventures.com | ||||
| expansioncapital.com | ||||
Venture investments in systems, infrastructure, and applications for enterprise founders. | next47.com | |||
Manufacturer & supplier of steel products and iron ore mining materials | 1976 | arcelormittal.com | United States | |
Invests in environmentally responsible real estate and community development projects. | 1989 | stellar.com | Kirkland, United States | |
Provides hosted software for energy generation, retail, and management services. | 1998 | ces-ltd.com | Philadelphia, United States |
Investor details for Powerit Solutions
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Powerit Solutions
1 people are tracked at Powerit Solutions (1 in leadership); the tracked headcount is 22.
| Name | Role | Group |
|---|---|---|
Rahul Bawa | Chief Executive Officer | Leadership |
Complete people profiles for Powerit Solutions
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Powerit Solutions
4 dated milestones of Powerit Solutions across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Powerit Solutions is founded.
- Funding First funding round of $7.1M.
- Funding Latest funding round, Series C, of $1.0M.
- Exit Acquired by Customized Energy Solutions.
Competitors of Powerit Solutions
Powerit Solutions has 3 listed competitors in our database, 3 of them funded. They include Enel X, Particle and Span.IO.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| enelx.com | 2001 | Boston, United States | $168M | 513 | Utility-scale renewable energy projects are developed by Enel X. | |
| particle.io | 2011 | San Francisco, United States | $134.87M | 109 | IoT connectivity platform from prototype to production is developed. | |
| span.io | 2014 | San Francisco, United States | $255.56M | Smart panels for home energy management are provided by Span.IO. |
Detailed competitors of Powerit Solutions
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Facility Management Platforms
3 companies that operate in the same segment as Powerit Solutions (Facility Management Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based software is provided for managing outdoor events and activities. | 1999 | Dallas, Texas, United States | USD 313.84 M | 2,458 | ||
Envoy is recognized for providing workplace management solutions. | 2013 | San Francisco, California, United States | USD 170.5 M | 463 | ||
IoT connectivity platform from prototype to production is developed. | 2011 | San Francisco, California, United States | USD 134.87 M | 109 |
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Frequently Asked Questions about Powerit Solutions
Powerit Solutions was founded in 2006 and raised its 1st funding round 1 year after it was founded.
Powerit Solutions is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Powerit Solutions is a funded company, having raised a total of $26.19M across 5 funding rounds to date. The company's 1st funding round was a Series A of $7.1M, raised on May 2007.
Powerit Solutions has 22 employees.
Powerit solutions provides web interface platform to connect Utility, Distributions with customer for demand management. Their products include Spara DM ,that makes adjustment for demand reduction in connected loads, Spara Hub which send the data into cloud which can be accessed at remote location, Spara Demand Diagnostics, an analytical tool that allows its partners and customers to determine potential demand management savings.
Powerit Solutions has 7 investors. Key investors include ArcelorMittal, Black Coral Capital, Ventures, Expansion Capital Partners, and Next47.
Powerit Solutions operates through Powerit Solutions Llc.
Yes. Powerit Solutions was acquired by Customized Energy Solutions in January 2016.