Power2Switch is a Chicago-based startup that offers a free online comparison service and an automated switching process to help residents and businesses find lower electricity rates. Co-founded by CEO Seyi Fabode and Phil Nevels, the platform increases awareness of energy deregulation, creates a more competitive landscape for suppliers, and promotes the use of renewable energy. The company raised $1.3M in funding and plans to use the proceeds to hire additional employees, accelerate sales and marketing, and expand into other deregulated states. The round was led by OCA Ventures, Hyde Park Angels, New World Ventures and I2A, with participation from private investors. In conjunction with the funding, Michael Polsky (Invenergy) and David Zyer (OCA Ventures) joined Power2Switch’s board of directors.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2011