Molecule Completes $12M Series A to Bring Cloud-Native ETRM/CTRM to Global Market

HOUSTON, May 6, 2021 /PRNewswire/ — Molecule, the leading SaaS platform powering the energy transition, announced the close of their $12 million Series A preferred round of funding. The investor group includes Mercury, a Houston-based early-stage venture capital firm that was an early believer in the Molecule team. Molecule will use the new capital to capitalize on its strengths, further building out its Elektra offering for physical and financial power and launching world-class offerings to manage renewables credits and back-office ETRM functionality. “In 2020, we realized that electricity—the growth commodity of the 2020s—represented over half of Molecule’s customer base, and we decided to double down,” said Sameer Soleja, founder and CEO of Molecule. “We were also rated the #1 SaaS ETRM/CTRM vendor. With this fundraise, we have the fuel to become #1 SaaS platform for power and renewables, and then the market leader overall. Molecule is ready to power the energy transition.” “We led the seed round of Molecule upon their formation and are excited to participate in their Series A,” said Blair Garrou, co-founder and Managing Director of Mercury. “Molecule’s success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s.” Molecule is… continue reading

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Source: CTRM Center

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