About Varentec
Varentec is an Energy & Utilities company based in Santa Clara (United States) founded in 2009. High-performance power electronics for grid control are developed. Varentec has raised $43.06 million across 12 funding rounds from investors including 3M, Khosla Ventures and Square 1 Bank. The company has 24 employees. Its focus areas include Energy Tech, Smart Grid, Grid Management and Volt VaR Optimization. Its legal entity is VARENTEC, INC. Its competitors include Tantalus, Trilliant and Utilidata; 3 of its 3 listed competitors have raised funding.
Company details
Varentec was founded in 2009 in Santa Clara, United States, within the energy sector. Compact and high-performance power electronics, along with integrated systems, are developed for electric grid and industrial uses. Grid edge control solutions are offered through ENGO V hardware and ENGO Manager software, facilitating decentralized real-time management of voltage and reactive power across distribution lines to support various operational benefits.
- Headquarters Santa Clara, United States
- Employees 24
- SectorsEnergy & Utilities
- Email••••••••
- Website varentec.com
- Social LinkedIn
- Legal Name Varentec, Inc.
- Total Equity Funding$43.06M (USD)
in 12 rounds
- Latest Funding Round$5M (USD), Series C
Nov 2019
- Investors3M
& 6 more
- Employee Count24
Funding Insights of Varentec
Varentec has successfully raised a total of $43.06M across 12 strategic funding rounds. The most recent funding activity was a Series C round of $5 million completed in November 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 $43.06M
- Total Rounds 12
- Last Round Series C — $5M
- First Round $2.29M
(Jun 2010)
- Investors Count 7
Latest 10 of 12 funding rounds of Varentec 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 |
|---|---|---|---|---|---|
| Nov 2019 | $5M | Series C | – | Windsail Capital Group | – |
| Aug 2016 | Series C | – | – | ||
| Nov 2015 | $13.14M | Series C | – | 3M | |
| Sep 2014 | $4M | Debt – Conventional | – | – | |
| Jun 2014 | $3M | Series B | – | – | – |
| Sep 2013 | $8.08M | Series B | – | Khosla Ventures, Bill Gates | – |
| Jan 2012 | $7.7M | Series A | – | Khosla Ventures | – |
| Jan 2012 | $5M | Grant | – | – | |
| Dec 2011 | $4.03M | Grant | – | – | |
| Sep 2011 | $6.13M | Series A | – | – | – |
7 investors in total: 6 institutional and 1 angel.
Investors in Varentec
Varentec has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include 3M, Khosla Ventures and Square 1 Bank.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| windsailcapital.com | ||||
Early-stage startups are funded by this venture capital firm. | 2004 | khoslaventures.com | Menlo Park, United States | |
High-risk energy technologies are funded through competitive grants. | arpa-e.energy.gov | Washington, Dc, United States | ||
3M is recognized as a global leader in industrial innovation. | 1902 | 3m.com | United States | |
Venture debt, treasury, and cash management services are provided. | 2005 | square1bank.com | Durham, United States | |
Scientific and technical information is managed and disseminated by OSTI.GOV. | osti.gov | Oak Ridge, United States | ||
BG Bill Gates | Co-founder of Microsoft, philanthropist, and active angel investor globally | unknown_6e50ecd69c4b47a39 |
Investor details for Varentec
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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People of Varentec
23 people are tracked at Varentec (6 in leadership, 17 in team); the tracked headcount is 24.
| Name | Role | Group |
|---|---|---|
Greg Vela | Sr. Director -revenue Grid Edge Control | Leadership |
Randy Cough | Sr Director Of Technical Sales At Sentient Energy | Leadership |
Brian Hewett | Engineering Director | Leadership |
Sannaasi Jegatheesan | VP of Software Engineering | Leadership |
Ean Houts | Director Of Manufacturing Automation | Leadership |
Troy Osteraa | Director, Commercial IT Operations | Leadership |
Giang Tran | Senior Supplier Quality Engineer | Team |
Michael McLaughlin | Manufacturing Engineering Manager | Team |
Ritesh Koickel | Senior Development Manager/ Architect | Team |
Joseph G. | Sr. Application Engineer - Power System Analytics | Team |
Tapan Patra | UI Engineer | Team |
John Costello | SVP, Global Sales | Team |
Nadeem Khouri | Technical Sales Support Engineer | Team |
Eric Griffin | Sales Manager | Team |
James J. | Senior Production Support Engineer | Team |
George Asmus | SVP, Operations | Team |
Nicole Slagle | Leader, People & Culture | Team |
Daniel Meadows | Sales Operations Manager, Salesforce Administrator | Team |
Joe White | Test Engineering Manager | Team |
Rick Cochran | Senior Validation Engineer (qa Automation) | Team |
3 more people are available in the full profile.
Complete people profiles for Varentec
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Timeline of Varentec
3 dated milestones of Varentec across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Varentec is founded.
- Funding First funding round of $2.3M.
- Funding Latest funding round, Series C, of $5.0M.
Competitors of Varentec
Varentec has 3 listed competitors in our database, 3 of them funded. They include Tantalus, Trilliant and Utilidata.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| tantalus.com | 1989 | Raleigh, United States | $58.7M | 42 | Smart grid communication solutions are provided for utilities by Tantalus. | |
| trilliant.com | 1997 | Spearfish, United States | $317M | Provider of communication systems and software platforms for smart grid applications | ||
| utilidata.com | 1983 | Providence, United States | $145.82M | 49 | Distribution grid automation solutions are provided for utilities. |
Detailed competitors of Varentec
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Web traffic of Varentec
Websites that share an audience with Varentec (varentec.com).
Websites whose visitors overlap most with Varentec. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| ambri.com | 100% | 4.9K | #3,857,389 | View details | |
| tigoenergy.com | 90% | 298.6K | #164,142 | View details | |
| sungevity.com | 89% | View details |
Top companies in Smart Grid & Transmission Systems
3 companies that operate in the same segment as Varentec (Smart Grid & Transmission Systems) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Utility-scale renewable energy projects are developed by Enel X. | 2001 | Boston, Massachusetts, United States | USD 168.67 M | |||
AI and cloud-driven solutions for energy optimization are provided. | 2009 | Millbrae, California, United States | USD 228.56 M | USD 156.27 M | 569 | |
IoT-enabled distributed energy resource management solutions are provided. | 2011 | Redwood City, California, United States | USD 158.75 M | USD 2.47 M | 50 |
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Frequently Asked Questions about Varentec
Varentec was founded in 2009 and raised its 1st funding round 1 year after it was founded.
Varentec is headquartered in Santa Clara, United States. It is registered at Santa Clara, California, United States.
Varentec is a funded company, having raised a total of $43.06M across 12 funding rounds to date. The company's 1st funding round was a Series A of $6.13M, raised on Jun 2010.
Varentec has 24 employees.
Varentec was founded in 2009 in Santa Clara, United States, within the energy sector. Compact and high-performance power electronics, along with integrated systems, are developed for electric grid and industrial uses. Grid edge control solutions are offered through ENGO V hardware and ENGO Manager software, facilitating decentralized real-time management of voltage and reactive power across distribution lines to support various operational benefits.
Varentec has 7 investors. Key investors include 3M, Khosla Ventures, Square 1 Bank, Windsail Capital Group, and Bill Gates.
Varentec operates through Varentec, Inc..