Tibber is a smart digital energy provider and platform that replaces traditional utilities with a mobile app offering real-time analytics to help consumers lower energy bills. The app pairs with smart home hardware and connects independent sustainable energy sources such as solar PV, EV chargers, batteries, and heat pumps to optimize consumption and provide grid load balancing. Founded in 2016, Tibber had reached over 400,000 household customers across Norway, Sweden, and Germany at the beginning of the year. The company’s vision is to make sustainable energy consumption simple and affordable and its mission is to reduce residential energy consumption for European households by 20%. Tibber completed a $100M Series C in March 2022 and recently saw Altor acquire a minority stake via secondary purchases from existing shareholders. Altor’s investment is intended to support Tibber’s expansion within Europe and its goal to become a leading home energy platform. Tibber is a Norway-based smart energy provider offering a real-time energy consumption analytics app and integrations with smart home devices. Its products include smart analysis for households, smart charging for electric cars, and smart heating for connected thermostats. The company plans to use the new funding to significantly bolster its product lineup and launch new products aimed at reducing consumption and increasing home independence from the grid. Tibber has gained traction in Norway, Sweden, and Germany and is targeting The Netherlands as its next market. Since launching in 2016, subscriber numbers nearly quadrupled in 2021 from approximately 120,000 to over 400,000. Financially, Tibber closed a $100 million Series C and has raised $181.5 million to date in a mix of equity and debt. Tibber offers a digital utility service that supplies green energy and an app providing real-time analytics to help households reduce electricity use. Its app pairs with smart-home devices to automate consumption reductions, letting users adjust thermostats and light brightness. The company also offers solutions for electric vehicles. Tibber says it is committed to “not profiting off energy consumption.” Since launch it has signed up over 100,000 paying households across Norway, Sweden and Germany. Its next target market is the Netherlands in 2021. Tibber offers an app and AI bots that automatically buy electricity at the lowest wholesale prices and integrates with IoT devices so users can shift consumption to cheaper hours. The product includes smart-home integrations for electric-car charging, thermostats and smart plugs; Tibber launched a smart charging feature for Tesla and other EVs that it says cuts charging costs by about 20%. The company claims users save an average of 20% on electricity bills through its combination of wholesale prices and device control. Tibber currently powers about 40,000 homes, roughly 25% of which are smart homes connected to Tibber-controlled devices. The team of 21 people operates in Sweden and Norway and the company says it plans to further expand in the Nordics, develop its product and launch in new European markets, including Germany.

Total raised

$177M

Funding rounds

5

Latest round

Series C

Latest activity

Mar 2022