Leap, a San Francisco, CA-based provider of an energy market access platform, raised $12M in funding.
The round was led by Standard Investments with participation from DNV Ventures and Sustainable Future Ventures, as well as existing investors including Union Square Ventures, Congruent Ventures and National Grid Partners. In conjunction with the funding, Standard Investments’ Logan Ashcraft, joined Leap’s Board of Directors.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Thomas Folker, Leap provides a software platform that facilitates fast, automated access to energy markets for battery storage systems, electric vehicle (EV) charging, smart thermostats, building management systems and other distributed energy resources (DERs), making it easy for technology providers and operators to earn revenue in demand response and other grid services programs. By aggregating the DERs enrolled on its platform, Leap supplies virtual power plants (VPPs) to balance the grid.
Alongside a network of 70+ technology partners, Leap has connected over 70,000 customer meters to deploy virtual power plants (VPPs) across the United States.
FinSMEs
19/07/2023