Our Europe Ventures team continues to back Norway-headquartered smart energy provider Tibber in a $100 million Series C round
Tibber, the smart energy provider revolutionizing the energy industry with its innovative business model, has raised its latest round to significantly expand its product offering and accelerate European households becoming independent from fossil fuel energy. Instead of profiting from their customers' energy consumption, Tibber offers its customers renewable energy for the purchase price and smart technology that helps them control and lower their energy consumption.
Since it started out back in 2016, Tibber has been on a journey to assist consumers in lowering their energy bills and making more intelligent decisions around their electricity consumption. By providing its customers with real-time analytics into energy usage and smart home devices, Tibber gives customers control over their energy usage. Additionally, Tibber also offers numerous smart home devices like electric vehicle chargers, smart thermostats and energy reading devices (e.g. Tibber Pulse) through its online store.
Tibber tripled its number of users during 2021, more than doubled the team and shipped more smart energy innovations than ever. Even in the ongoing energy crisis Tibber’s market position has strengthened as people actively look for better options to take control over their energy consumption.
Alston Zecha, Eight Roads Partner and Tibber board member, said: "we led Tibber’s Series B round two years ago, off a strong thesis around tech-native green energy and we're proud to continue to support the company as it plays an even more important role in Europe's energy transition."
We're thrilled to continue to back Tibber alongside our co-investors at Summa Equity, Balderton Capital and Schibsted Ventures as Tibber continues to scale across Europe.