About Tank Utility
Tank Utility is an Energy & Utilities company based in Somerville (United States) founded in 2014 by David Gagnon and Nick Mashburn, and was acquired by Generac Power Systems in September 2021. Propane tank levels are monitored remotely with price comparisons provided. It operates in the Energy & Utilities and Technology sectors. Tank Utility has raised $9.18 million across 5 funding rounds from investors including Generac Power Systems, Bullpen Capital and Earth Foundry. The company has 22 employees. Its chief executive, as recorded, is Aaron Jagdfeld. Tank Utility offers products and services including Tank Monitoring Device and Mobile App. Its focus areas include High Tech, IoT Applications, Industry Agnostic and Asset Tracking. Its legal entity is TANK UTILITY, INC. Its competitors include GasWatch and One-Tank.
Company details
Tank Utility was founded in 2014 in Somerville, United States, as a system for remote propane monitoring and price comparison. Operations focus on tracking tank levels, analyzing real-time consumption patterns, and integrating current market rates within an application. Services include alerts for fuel management and purchasing decisions. The platform operates in the energy utilities sector, serving consumers to maintain visibility over propane usage.
- Headquarters Somerville, United States
- Employees 22
- Founders David Gagnon, Nick Mashburn
- Stage Acquired
- SectorsEnergy & UtilitiesTechnology
- Website tankutility.com
- Social LinkedIn X
- Acquired by Generac Power Systems (Sep 2021)
- Legal Name Tank Utility, Inc.
- Total Equity Funding$9.18M (USD)
in 5 rounds
- Latest Funding Round$6M (USD), Series A
Feb 2019
- InvestorsGenerac Power Systems
& 6 more
- Employee Count22
- Acquired byGenerac Power Systems
(Sep 2021)
Products & Services of Tank Utility
Tank Utility offers a comprehensive portfolio of products and services, including Tank Monitoring Device and Mobile App.
Device for tracking propane levels to optimize fuel deliveries.
App that notifies homeowners of low fuel levels via LTE.
Funding Insights of Tank Utility
Tank Utility has successfully raised a total of $9.18M across 5 strategic funding rounds. The most recent funding activity was a Series A round of $6 million completed in February 2019. 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 $9.18M
- Total Rounds 5
- Last Round Series A — $6M
- First Round $200,000
(Nov 2015)
- Investors Count 7
All 5 funding rounds of Tank Utility 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 |
|---|---|---|---|---|---|
| Feb 2019 | $6M | Series A | – | Bullpen Capital | |
| Dec 2018 | $400,000 | Seed | – | – | – |
| Oct 2017 | $575,000 | Seed | – | – | – |
| Jun 2016 | $2.2M | Seed | – | Energy Foundry | |
| Nov 2015 | $200,000 | Grant | – | – |
7 investors in total: 7 institutional.
Investors in Tank Utility
Tank Utility has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Generac Power Systems, Bullpen Capital and Earth Foundry.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Seed & early stage tech-focused venture capital firm investing in the US and Canada | bullpencap.com | San Francisco, United States | ||
Venture capital is provided for critical industries by Earth Foundry. | 2012 | energyfoundry.com | ||
Venture capital fund focused on Agtech and multiple sectors | serraventures.com | Champaign, United States | ||
Tech focused VC firm investing in the US & Israel | array.vc | San Francisco, United States | ||
Seed-stage investments in US companies are made by Bolt. | bolt.io | Boston, United States | ||
Cleantech startups are supported through a global accelerator program. | 2005 | cleantechopen.org | Los Angeles, United States | |
Manufacturer of power generation equipment and energy storage solutions | 1959 | generac.com | Waukesha, United States |
Investor details for Tank Utility
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Tank Utility
419 people are tracked at Tank Utility (138 in leadership, 9 in board & advisors, 272 in team); the tracked headcount is 22.
| Name | Role | Group |
|---|---|---|
David Gagnon | Co-Founder & COO | Leadership |
Nick Mashburn | Co-Founder | Leadership |
Aaron Jagdfeld | CEO | Leadership |
Colton Vollmer | Sr. Director Of Global Supply Chain | Leadership |
Alex Dougherty | Senior Director, Global Product Security | Leadership |
Kyle Raabe | President, Consumer Power | Leadership |
Ozren B. | Director Cybersecurity Operations | Leadership |
Darren McArthur | Director Product Regulatory Affairs | Leadership |
Andy Ostrom | Vice President Of Strategy & Transformation | Leadership |
Aaron P. Jagdfeld | Chairman, President & CEO | Leadership |
Jeffrey Wood | Vice President Of Advanced Manufacturing / EHS / Operations Program Management | Leadership |
Abhishek Kapoor | Senior Director, Global Strategic Sourcing | Leadership |
Jimmy Gambier | Senior Director | Leadership |
Derek Duessing | Director Of Finance | Leadership |
Amit Dogra | Vice President Human Resources | Leadership |
Suzanne M. Clausing | Senior Director | Leadership |
Amber Forge | Head Of Sales Operations, Consumer Power | Leadership |
Kyle Grahn | Senior Director Of Service Engineering | Leadership |
Chad Dombrowski | Director Talent Acquisition | Leadership |
David Kujawa | Director Of Engineering | Leadership |
399 more people are available in the full profile.
Complete people profiles for Tank Utility
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Tank Utility
4 dated milestones of Tank Utility across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Tank Utility is founded.
- Funding First funding round of $200K.
- Funding Latest funding round, Series A, of $6.0M.
- Exit Acquired by Generac Power Systems.
Competitors of Tank Utility
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| gaswatch.com | 2004 | Matthews, United States | Propane tank scales with Bluetooth connectivity for smartphone-based level monitoring. | |||
| one-tank.com | 2004 | United States | Provides a web-based platform for propane fuel tank monitoring. |
Detailed competitors of Tank Utility
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Tank Utility
The website of Tank Utility (tankutility.com) receives about 2.7K visits a month.
- Monthly visits2.7K
▲ 54.6% vs previous month
Top companies in Oil & Gas Technology Solutions
3 companies that operate in the same segment as Tank Utility (Oil & Gas Technology Solutions) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
AI-based software for manufacturing process optimization is offered. | 1981 | Bedford, United States | USD 100 M | USD 5.21 M | 64 | |
Cloud infrastructure and AI-optimized data centers are provided. | 2018 | Denver, Colorado, United States | USD 6.67 B | 1,820 | ||
AI-driven urban datasets and analysis tools are offered by Urbint. | 2015 | New York, New York, United States | USD 130.08 M |
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Frequently Asked Questions about Tank Utility
Tank Utility was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Tank Utility is headquartered in Somerville, United States. It is registered at Somerville, Massachusetts, United States.
Aaron Jagdfeld is the CEO of Tank Utility, as recorded in our data.
Tank Utility is a funded company, having raised a total of $9.18M across 5 funding rounds to date. The company's 1st funding round was a Grant of $200K, raised on Nov 2015.
Tank Utility has 22 employees.
Tank Utility was founded in 2014 in Somerville, United States, as a system for remote propane monitoring and price comparison. Operations focus on tracking tank levels, analyzing real-time consumption patterns, and integrating current market rates within an application. Services include alerts for fuel management and purchasing decisions. The platform operates in the energy utilities sector, serving consumers to maintain visibility over propane usage.
Tank Utility offers Tank Monitoring Device and Mobile App.
Tank Utility has 7 investors. Key investors include Generac Power Systems, Bullpen Capital, Earth Foundry, Serra Ventures, and Array Ventures.
Tank Utility operates through Tank Utility, Inc..
Yes. Tank Utility was acquired by Generac Power Systems in September 2021.