About Utilities sector in North America
The Utilities sector in North America comprises 721 companies, including 341 funded companies having collectively raised $42.7B in venture capital money and private equity. Out of these, 218 are Series A+ funded.
Utilities sector in North America has seen 141 acquisitions and 48 IPOs. This represents almost 26.2% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
Top Utilities Companies in North America
There are 721 Utilities startups in North America which include Southern, Georgia Power, ComEd, Just Energy, Quanta Services. Out of these, 341 startups are funded, with 218 having secured Series A+ funding.
Over the past 10 years, an average of 7 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Kellogg School of Management, Harvard University and Bocconi University.
Here is the list of top Utilities startups in North America
1. Southern
In 2022, the company recorded annual revenues of $29.27B and a net profit of $3.52B.
Key facts about Southern
- Founded Year: 1912
- Location: Atlanta (United States)
- Stage: Public
- Investors: IDEO CoLab, DOE and 1 Other
- Latest Funding Round: Conventional Debt, Sep 2016, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 4 of 2,742 Competitors
Key facts about Georgia Power
- Founded Year: 1883
- Location: Atlanta (United States)
- Stage: Public
- Investors: DOE and United States Department of Agriculture
- Latest Funding Round: Conventional Debt, Oct 03, 2017, $*****
- Tracxn Score: 68/100 What is this?
- Competitors Rank: 4 of 810 Competitors
3. ComEd
ComEd is a power utility company which supplies electric power through a transmission network of 90k miles by serving 3.8 million customers in Illinois. Offers equipment installation, outdoor lightings, facility remodeling, demolition & removal services. Supplies & installs smart meters, e-vehicle charging stations & solar systems. Other services are fridge pickup & recycling, smart meter installation, and energy consumption assessments. Provides online wallet options for instant bill payment options and customers can manage the services online.
Key facts about ComEd
- Founded Year: 1907
- Location: Chicago (United States)
- Stage: Funding Raised
- Investors: NTIA, DOE and 1 Other
- Latest Funding Round: Grant (prize money), Jun 20, 2023, $*****
- Tracxn Score: 68/100 What is this?
- Competitors Rank: 7 of 2,205 Competitors
4. Just Energy
Retail provider of electricity and natural gas commodities. It offers fixed and variable rate products for residential and commercial customers. Services include green energy options and solar incentive programs. The company aims to provide competitive pricing and straightforward customer service. Plan switching is facilitated without fees.
Key facts about Just Energy
- Founded Year: 2009
- Location: Mississauga (Canada)
- Stage: Acquired
- Investors: Sagard
- Latest Funding Round: Post IPO, Aug 26, 2020, $*****
- Tracxn Score: 65/100 What is this?
- Competitors Rank: 21 of 2,205 Competitors
Quanta Services is an integrated infrastructure solutions provider for the electric power, oil & gas, and telecommunication industries. Their products include electric power, oil, and gas, telecommunications, and specialty services. In 2022, the company recorded annual revenues of $17.54B and a net profit of $0.5B
Key facts about Quanta Services
- Founded Year: 1997
- Location: Houston (United States)
- Stage: Public
- Investors: Engine Capital and First Reserve
- Latest Funding Round: Post IPO, Dec 26, 2002, $*****
- Tracxn Score: 64/100 What is this?
- Competitors Rank: 14 of 810 Competitors
Companies founded year-on-year in the Utilities sector in North America
14 Utilities startups in North America were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 8 |
2022 | 13 |
2021 | 9 |
2020 | 11 |
2019 | 14 |
2018 | 10 |
2017 | 9 |
Stage-wise distribution of Utilities sector companies in North America
Out of the total 721 Utilities companies in North America, 341 have secured funding. Among them, 218 have reached Series A or higher, and 203 to Series B or beyond.
Founded - 721
Funded - 341
Series A+ - 218
Series B+ - 203
Series C+ - 198
Company Stage | No. of companies |
|---|---|
Founded | 721 |
Funded | 341 |
Series A+ | 218 |
Series B+ | 203 |
Series C+ | 198 |
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Funding Trends in the Utilities sector in North America
Total funding year-on-year in the Utilities sector in North America
The Utilities sector in North America saw a total funding of more than $33.6B in the last 10 years. The most amount of funding was in 2016 at more than $12.1B.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $99.3M |
2024 | $551M |
2023 | $1.93B |
2022 | $2.6B |
2021 | $17.5M |
2020 | $1.1B |
2019 | $4.81B |
2018 | $8.63B |
2017 | $1.74B |
Recent Funding Rounds in Utilities in North America
In the year 2025, till August 2025, Utilities companies in North America have raised $49.8M in equity funding across 4 rounds.
In the same period last year (i.e. till July 2024), Utilities companies in North America had raised $5.2M across 2 rounds.
So, 2025 has seen a 856.57% rise in funding in Utilities companies in North America as compared to 2024.
Here are some recent, important funding rounds in Utilities companies in North America:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series B | 4461 | Aug 18, 2025 | ||
Series A | 1112 | Jul 17, 2025 | and 4 more | |
Series C | 3284 | Jun 17, 2025 | ||
Seed | 5421 | May 30, 2025 | - | |
Series B | 4292 | Nov 07, 2024 |
Top Investors in Utilities in North America
United States Department of Agriculture is the top investor in Utilities companies in North America based on number of companies invested.
Here are some top investors in Utilities companies in North America:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Washington, DC (United States) | ||
Oak Ridge (United States) | ||
Washington, DC (United States) | ||
Washington, DC (United States) | DTE Energy and LADWP | |
Washington, DC (United States) |
M&A activity in Utilities sector in North America
In the year 2025, till November 2025, 9 acquisitions happened in Utilities sector in North America. Last year, in 2024, a total of 21 acquisitions happened in Utilities sector in North America.
Here are some recent, important acquisitions in Utilities sector in North America:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Nov 19, 2025 | ||
Business Acquisition | Jun 19, 2025 | ||
Business Acquisition | Jun 02, 2025 | ||
Business Acquisition | May 23, 2025 | ||
Business Acquisition | May 19, 2025 |
Acquisition trends in Utilities sector in North America
Here are the acquisition trends in Utilities sector in North America:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 9 |
2024 | 21 |
2023 | 11 |
2022 | 6 |
2021 | 11 |
2020 | 13 |
2019 | 17 |
2018 | 7 |
2017 | 7 |
IPOs in Utilities in North America
In the year 2022, till July 2022, 2 IPOs happened in Utilities sector in North America.
Here are some recent, important IPOs in Utilities sector in North America:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jul 22, 2022 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
May 18, 2022 | OTC Markets (OTCMKTS) | |
Aug 13, 2021 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Jun 04, 2021 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Apr 15, 2021 | London Stock Exchange (LSE) |
Colleges which produce the most Utilities companies in North America
Companies founded by alumni from top colleges in the Utilities in North America
Most number of Utilities startups in North America have been founded by alumni from Kellogg School of Management, Harvard University and Bocconi University.
College | No. of companies |
|---|---|
Kellogg School of Management | 3 |
Harvard University | 2 |
Bocconi University | 1 |
Booth School of Business | 1 |
Harvard Business School | 1 |
Massachusetts Institute of Technology | 1 |
University of California (Los Angeles) | 1 |
University of Chicago | 1 |
University of Pennsylvania | 1 |
University of Warwick | 1 |
Total funding in Utilities companies founded by alumni from top colleges in North America
In the last 10 years, Yale University graduates' Utilities companies in North America have raised the most funding among top colleges. Harvard University alumni are second, and University of Pennsylvania alumni are third.
College | Total Funding |
|---|---|
Yale University | $40M |
Harvard University | $10M |
University of Pennsylvania | $8.2M |
University of California (Los Angeles) | $6.38M |
Kellogg School of Management | $2.61M |
Bocconi University | - |
Booth School of Business | - |
Harvard Business School | - |
Massachusetts Institute of Technology | - |
University of Chicago | - |
Top News in Utilities in North America
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EC Electric Receives NECA Zero Injuries & Safety Excellence AwardMining Stock Education•Dec 03, 2025•EC Electric
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Avangrid Honored for Excellence in Information Sharing by Homeland Security TodayBusiness Wire•Nov 18, 2025•Avangrid
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TNMP, a TXNM Energy subsidiary, Files Base Rate Review Requesting $2.8 Billion RecoveryMining Stock Education•Nov 17, 2025•PNM Resources, TNMP, Intech
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Blazer Electric Supply Opens New Branch in Grand JunctionMining Stock Education•Oct 16, 2025•Blazer Electric Supply
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US and Canada utility websites expand language options, E Source study findsPR Newswire•Oct 10, 2025•E Source
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