About Tank Utility
Tank Utility is a company based in Somerville (United States) founded in 2014 by David Gagnon and Nick Mashburn was acquired by Generac Power Systems in September 2021. 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 as of December 31, 2022. Tank Utility offers products and services including Tank Monitoring Device and Mobile App. Tank Utility operates in a competitive market with competitors including Gaszen, CountBox, GasOwl, GasWatch and One-Tank, among others.
- Headquarter Somerville, United States
- Employees 22 as on 31 Dec, 2022
- Founders David Gagnon, Nick Mashburn
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Sectors
Energy & UtilitiesTechnology
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Phone
Locked
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Website
Locked
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Social
Locked
- Legal Name Tank Utility, Inc.
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$9.18 M (USD)
in 5 rounds
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Latest Funding Round
$6 M (USD), Series A
Feb 14, 2019
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Investors
Generac Power Systems
& 6 more
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Employee Count
22
as on Dec 31, 2022
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Acquired by
Generac Power Systems
(Sep 20, 2021)
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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.
People of Tank Utility
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Software Development Team
137 people
Leadership Team
43 people
Human Resources and Administration
41 people
Product Management Team
40 people
Senior Team
20 people
Operations Team
13 people
Sales and Marketing
13 people
Finance and Accounting
11 people
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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.
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 |
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Seed & early stage tech-focused venture capital firm investing in the US and Canada
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Venture capital is provided for critical industries by Earth Foundry.
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Venture capital fund focused on Agtech and multiple sectors
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Investor details for Tank Utility
Investor domains, locations, round participation, and complete history require an active premium plan.
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Investments & Acquisitions by Tank Utility
Investment portfolio details for Tank Utility
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
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- Transaction dates
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Financial Statements - Tank Utility
Detailed financials for Tank Utility
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
- Historical revenue
- Profit trends
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Tank Utility Comparisons
Peer comparison for Tank Utility
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
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Competitors of Tank Utility
Tank Utility operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Gaszen, CountBox, GasOwl, GasWatch and One-Tank, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Offers mobile application to monitor LPG gas level
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Delivers advanced web and app-based solutions for fuel tank monitoring.
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Provides smart gas scales and app for monitoring, usage tracking, and automated reordering.
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Propane tank scales with Bluetooth connectivity for smartphone-based level monitoring.
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Provides a web-based platform for propane fuel tank monitoring.
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Detailed competitors of Tank Utility
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Latest news on Tank Utility
Complete news archive for Tank Utility
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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 current CEO of Tank Utility.
Tank Utility is a funded company, having raised a total of $9.18M across 5 funding rounds to date.
As of Dec 31, 2022, the latest employee count at Tank Utility is 22.
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.