Glow Energy Analysis: $500K Raised
What is Glow Energy?
Glow Energy provides compliant solar billing software for multifamily property owners, enabling them to generate predictable income from on-site solar systems. The platform integrates with property management systems and automates ledger updates. Residents receive discounted clean power, and property owners benefit from a new, stable revenue stream. The solution supports real-time energy tracking and ESG reporting.
Location
Santa Monica, United States
Employees
1-10
Founded
2021
Revenue
$618.7M
Product Features & Capabilities
- Compliant multifamily solar billing software, clean solar power provision to residents, audit-grade solar bill generation, seamless integration into property management systems, automated ledger updates, convenient in-app and offline bill payment options, real-time tracking of energy emissions and prices, device management for EV chargers and appliances, detailed emissions impact data for ESG reporting.
How much Glow Energy raised
1 - $500,000
June 8, 2022Lead Investor: Climate Capital, Collaborative Fund, Cool Climate Collective, Global Founders Capital, Helene.
Who are the founders of Glow Energy
GS
Greg Sirotek
CEO
RG
Ross Gruber
CTO
Business Model
Revenue generated through solar billing software and financial returns for property owners.
Market Focus
Glow Energy primarily focuses on the renewable energy industry, specifically providing solar billing software for multifamily properties to enhance financial returns on solar investments and ensure utility compliance.
Investors
- Climate Capital
- Collaborative Fund
- Cool Climate Collective
- Global Founders Capital
- Helene
Competitors Overview
Glow Energy operates in the multifamily solar billing software market, and its main competitors include:
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Ivy Energy: Ivy Energy offers a Virtual Grid cloud software that automates solar and EV billing, providing comprehensive sustainability data and reporting. Their advantage lies in their robust program support and the integration of electric vehicle (EV) billing, which may appeal to property owners looking to enhance their sustainability initiatives.
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Dominion Energy: This company is heavily invested in solar energy, with a commitment to expanding its solar generation capacity significantly. They provide various solar services, including residential solar installations and large-scale solar projects. Their advantage is their extensive infrastructure and experience in the energy sector, which allows them to offer a wide range of energy solutions beyond just billing software.
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Enel X: Enel X specializes in solar-plus-storage solutions, allowing customers to pair on-site solar with energy storage. This integration can lead to lower energy costs and improved sustainability outcomes. Their focus on innovative energy solutions and technology-enabled services gives them a competitive edge in the market.
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Southern Company: Southern Power, a subsidiary of Southern Company, owns a significant amount of solar generating capacity across multiple states. Their established presence in the energy market and extensive resources provide them with a strong competitive advantage in solar energy solutions.
These competitors differ from Glow Energy primarily in their broader energy service offerings and established market presence, which may provide them with additional resources and customer trust.
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