Arcadia: A Climate Tech Company Enabling a Zero-Carbon Economy

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Arcadia.

For almost a half-century, the world has been talking about quitting its addiction to fossil fuels. In 2022, the United States took decisive action via a series of infrastructure bills to begin the energy transition. According to experts, the Federal Sustainability Plan, the Inflation Reduction Act, and the SEC Climate Proposal will reshape the U.S. economy in the coming decades.

But the dangerous effects of climate change are continuing globally, and energy shocks continue to roil the world. Subsidies and tax credits will not be sufficient to deal with this situation. Energy innovators inventing a distributed, responsive, and carbon-free power system require digital access to the existing network of millions of utility meters deployed at utilities worldwide to develop solutions.

Arcadia's climate tech platform enables this new infrastructure with simple software tools to unlock data across utility monopolies. The company integrates this data with APIs under a single roof allowing companies to act on their environmental impact and develop next-generation energy products.

Read further to uncover more about Arcadia, from its founder and startup story to products, growth, and more.

Arcadia – Company Highlights

Arcadia – About
Arcadia – Industry
Arcadia – Founders and Team
Arcadia – Startup Story
Arcadia – Mission and Vision
Arcadia – Business Model
Arcadia – Revenue Model
Arcadia – Products and Services
Arcadia – Funding and Investors
Arcadia – Mergers and Acquisitions
Arcadia – Patents and Trademarks
Arcadia – Growth
Arcadia – Social Media Presence
Arcadia – Partners
Arcadia – Awards and Achievements
Arcadia – Competitors

Arcadia – About

Arcadia is a Washington, D.C.-based climate technology company enabling a zero-carbon economy. It developed a clean energy technology platform to facilitate energy innovators' and consumers' easy access to clean energy.

Moreover, Arcadia's platform facilitates data and billing integrations across utilities in the United States and aggregates clean energy supply, enabling users to ensure optimal energy control. More than 300 businesses across multiple verticals, from EVs, ESG reporting, and energy cost management to solar and storage, use Arcadia to power their businesses and develop better energy experiences.

Arcadia – Industry

Arcadia is running a business in the climate tech market the size of which is projected to reach from $13.8 billion in 2021 to $147.5 billion by 2032, with a CAGR of 24.2% during this period.

An increasing number of climate issues, like depletion of natural resources, climate change, and rising pollution levels are some of the vital reasons why the climate tech market is growing at a steady pace. Along with Arcadia, Climeworks, GE Hitachi Nuclear Energy, and TerraPower are some key players in the industry.

Arcadia – Founders and Team

Kiran Bhatraju is the founder of Arcadia.

He attended the University of Pennsylvania for a Bachelor of Arts (B.A.). He has been an ex-Co-Founder and Director of Business Development at American Efficient. Kiran is currently a National Council member of the World Wildlife Fund and a Board Member of AppHarvest. In addition, he is Arcadia's CEO.

Arcadia is a team of over 920 technologists, data scientists, and energy nerds, with Kate Hessingsen as the COO.

Arcadia – Startup Story

Arcadia's founder, Kiran, spent his childhood in Appalachia, an area heavily impacted by the coal industry. He always wanted to invent a better energy solution. In 2010, he commenced American Efficient, a company that capitalized on the tailwinds of sustainability, energy source diversification, and utility unbundling so that utilities could change their business practices.

After four years, Kiran left American Efficient to start Arcadia in 2014. He founded the company to give people an easier way to choose renewable energy. It turns out the United States eagerly wanted a renewable energy alternative at that time. Arcadia matched its first power bill, from a member in Kentucky, with clean wind energy in early 2015. From there, the company has grown to unlock clean energy for customers across all 50 states.

Arcadia – Mission and Vision

Arcadia aims to stop climate change by breaking the fossil fuel monopoly. The company's technology is lighting a cleaner path forward for everyone, including everyday consumers, small businesses, and innovators building the next generation of energy products. It envisions building a 100% decarbonized and decentralized energy future.

Top 6 Billionaires Tackling Climate Change

With the rise of carbon emissions, billionaires are taking part and initiating projects to fight against climate change and save the planet.

StartupTalkyShubham Kumar

Arcadia – Business Model

When a customer joins the Arcadia community to pay his utility bills, the company buys the wholesale 'Renewable Energy Certificates' (RECs) from solar developers, tracks the customer's energy usage, and pays the utility accordingly. The utility, in turn, provides the physical electricity to the registered consumer.

Now that Arcadia tracks the consumer energy usage, it knows when to retire the REC when usage is matched and applies for the earned credits. Arc democratizes access to data from 9,500+ utility providers in 52 countries to cover more than 95% of America's residential and commercial utility accounts. The platform can reduce consumers' energy bills by 5-10% depending on the state regulations, the utility's original price, and renewable energy tariffs.

Arcadia – Revenue Model

Arcadia offers a paid plan to source 100% of customers' energy from renewable energy sources for $5 each month.

Arcadia – Products and Services

Arcadia's main product includes Arc Platform, which combines data and APIs to build energy solutions. In addition, the company offers Plug, Spark, Bundle, and Source.

Arcadia – Funding and Investors

Arcadia has raised a total amount of $495.5 million by undertaking 10 funding rounds. Its latest funding round – Venture Series Unknown, was raised on December 16, 2022, securing $125 million. 34 investors back the company, including Magnetar Capital, Green Investment Group, J.P. Morgan Asset Management, Tiger Global Management, The Drawdown Fund, and more.

Arcadia – Mergers and Acquisitions

Arcadia acquired 4 companies:

Arcadia – Patents and Trademarks

Arcadia is registered with 3 patents, primarily in the 'Computing; Calculating' class.

Arcadia – Growth

Arcadia's platform is battle-tested with 2 million+ utility accounts connected and has processed over $600 million in residential utility bill payments. It delivered 155% YOY organic revenue growth in 2021. Furthermore, the company's estimated revenue in 2022 was $289.5 million annually ($315,348 per employee).

In May 2022, its valuation stood at &1.5 billion. Its employee count increased by 46% last year, with a monthly web visits growth rate of 75.51%.

Arcadia – Social Media Presence

Arcadia leverages multiple social media platforms to build a zero-carbon future. As a result, the company has gained a lot of traction on these social media platforms:

Arcadia – Partners

Arcadia has partnered with:

• Decatur
• Goldman Sachs
• Urbint
• Freight Farms
• Airbnb
• American Farmland Trust
• Pivot Energy

Arcadia – Awards and Achievements

Arcadia won Diversity in Business Awards 2022 and was awarded Technology Pioneer by World Economic Forum in 2019.

Arcadia – Competitors

Some main competitors of Arcadia are:

• Aurora Solar
• Helical Solar Solutions
• Redback
• Distributed Energy
• SunCommon
• CleanChoice Energy Inc
• Pionis Energy Technologies LLC

FAQs

What does Arcadia do?

Arcadia is a Washington, D.C.-based climate technology company enabling a zero-carbon economy. It developed a clean energy technology platform to facilitate energy innovators' and consumers' easy access to clean energy.

Who is the founder of Arcadia?

Kiran Bhatraju is the founder of Arcadia.

Who are the main competitors of Arcadia?

Some main competitors of Arcadia are:

• Aurora Solar
• Helical Solar Solutions
• Redback
• Distributed Energy
• SunCommon
• CleanChoice Energy Inc
• Pionis Energy Technologies LLC