Gridsight Raises $26 Mn Series B to Help Utilities Manage Growing Power Grid Demand

The company provides software that helps electricity utilities manage and improve their existing power grids without needing to build completely new infrastructure.

Gridsight’s technology helps utilities handle growing electricity demand from data centers, electric vehicles, and distributed energy resources such as solar power systems.

The funding round was led by Insight Partners, a global venture capital firm focused on software. Galvanize, Airtree, Energy Transition Ventures, and Aera VC also participated in the round.

“The grid’s capacity challenge is not uniform. For the majority of the year, significant capacity exists; but it is uneven, dynamic and geographically dependent,” co-founder and CEO of Gridsight Brendan Banfield said.

“Our platform helps utilities quantify that capacity, connect customers faster and direct investment to the pockets of the grid that maximize its impact. Our goal at Gridsight is to use data and intelligence to ensure energy is an enabler for economic and technological progress, not its limiting factor.”

Gridsight will use the new funding to expand faster in the US market while continuing to grow its business in Australia.

The funding will also help the company improve and scale its software, enabling utilities to manage increasingly complex power grids and connect new electricity demand more efficiently.

Founded in 2021 by Brendan Banfield, Gridsight offers a software platform that combines AI, utility grid data, and electrical engineering to help power companies understand their electricity networks in real time.

The platform shows grid operators how much capacity is available, helping them manage the network more efficiently and connect new energy resources faster.

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