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INTERNET | eCommerce / Other Retail
power2switch.com

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Stage

Acquired | Acquired

Total Raised

$1.59M

About Power2Switch

Power2Switch is a web portal that aims to allow small business electricity consumers in Illinois to view and contract competitive electricity prices from eligible suppliers. The site aims to enable consumers to reduce electricity expenses and/or support alternative energy. The Power2Switch technology aims to make the switching process seamless for the consumer, automated for the supplier, and will include advanced consumer and supplier analytics to increase market efficiency. The portal will also empower consumers by allowing them to view fuel source information, facilitating their support of alternative energy. The portal benefits suppliers by allowing them to reach a much wider consumer base.

Power2Switch Headquarter Location

650 W Lake Street Suite 320

Chicago, Illinois, 60661,

United States

847-868-0247

Latest Power2Switch News

Choose Energy Has Acquired Power2Switch

Oct 2, 2013

Choose Energy is an online energy marketplace leader that helps residents and businesses determine the most feasible electricity provider. Choose Energy has acquired Chicago-based energy startup Power2Switch , which is also an alum of TechStars. Power2Switch helps consumers save on energy costs by comparing rates and enabling consumers to switch providers. The terms of the deal is undisclosed. “Power2Switch has a stellar reputation and has made an enviable footprint in the Illinois market,” stated Choose Energy president Jay Webster. “We are thrilled to welcome Power2Switch. We will now be able to offer more choices to our customers while expanding into new markets and working with additional service providers.” Choose Energy and Power2Switch has a common goal in providing energy cost savings to customers. Choose Energy will procure Power2Switch’s products, assets, and customers as part of the acquisition. Power2Switch has helped consumers and businesses save over $2.5 million by switching energy suppliers. Power2Switch raised $1.3 million in funding from Chicago-based investors and expanded to New Jersey, Texas, Ohio, and New York since launching. “We believe this transaction is the best path forward for Power2Switch and its shareholders,” added Power2Switch CEO and co-founder Seyi Fabode. “We are committed to working toward a smooth transition for our customers, and we are excited to see Power2Switch continue to flourish.”

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