Venture capital investor NGEN celebrates exit of Choose Energy
Green tech venture capital investor NGEN — an early investor in Soraa with West Coast headquarters in Santa Barbara — celebrated the exit of Texas-based energy market platform Choose Energy June 26.
According to reports, South Carolina-based advertising company Red Ventures spent less than $100 million in its acquisition of Choose Energy, though exact figures were not named.
Choose Energy had previously raised $25.7 million in venture capital, including a $7.5 million Series B round, led by NGEN and others in late 2013.
Founded in 2006 by Jerry Dyess, the company created an online platform to compare residential and commercial electricity and natural gas providers, allowing consumers to cut costs or choose cleaner energy sources. With around 20 employees, the company has service areas in California, Texas, Washington, D.C. and 13 other states.
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