Constellation Technology Ventures, Total Energy Ventures, GE, Iberdrola and Angeleno Group are investing in Stem to close out a $27 million Series B round.
Constellation Technology Ventures says energy storage is becoming increasingly important.
Total Energy Ventures will help Stem expand its reach with channel partners and several international opportunities.
Stem’s technology combines advanced energy storage and real-time data analytics to help businesses manage energy costs. Stem’s system automatically draws on stored energy to shave peak loads before they can impact customers’ electricity bills.