Choose Energy, Inc.

Choose Energy, Inc. is a digital platform that simplifies the comparison and selection of energy providers, enabling consumers to find optimal energy rates across various plans quickly. Founded in 2008 and headquartered in Plano, US, Choose Energy, Inc. facilitates the comparison of electricity, natural gas, and renewable energy plans.

The company was acquired by Red Ventures in June 2017 from its previous investors, including Kleiner Perkins and NGEN Partners. Allyson Johnson serves as the CEO. The firm has completed 5 significant deals since its inception. Choose Energy® specializes in facilitating the comparison and selection of energy providers, allowing users to secure optimal energy rates without fees.

The online platform serves residential and business customers across 15 states, including Texas, California, and New Jersey, empowering users to choose from various energy plans based on their zip codes. The platform has assisted over 2 million customers in finding tailored energy solutions. Choose Energy generates revenue through a commission-based model from partnerships with energy providers. Clients utilize the platform to compare energy rates and enroll in plans, resulting in revenue upon successful customer enrollment.

The business model primarily operates on a B2C basis, facilitating direct transactions between consumers and energy suppliers while providing resources for informed decision-making. With the recent funding from the Series C round on June 27, 2017, which raised USD 14. 20 mn, Choose Energy plans to enhance its platform with new features aimed at improving user experience. The company is also exploring expansion into additional markets beyond the 15 states it currently operates in, although specific new regions and timelines have not been disclosed.

The recent acquisition by Red Ventures is expected to support these growth initiatives.