Texture, a grid software platform that gives utilities a unified view of every device and data source on their network, announced it has raised $12.5 million in Series A funding. The round was co-led by VoLo Earth Ventures and Equal Ventures, with participation from Lerer Hippeau and Abstract Ventures.
The New York-based company said the funding will support expansion of its platform, which is already being used by utility cooperatives and energy companies to help manage grid operations in real time.
Texture’s software is designed to address the increasing operational complexity facing power utilities as they manage rising electricity demand from data centers, electric vehicles, distributed generation, utility-scale renewables, and extreme weather conditions. The platform connects to systems including AMI, SCADA, batteries, EVs, solar infrastructure, and smart thermostats, consolidating the information into a single operational layer without requiring utilities to replace existing systems.
The company said its initial traction has come from utility cooperatives, which serve about 42 million Americans and often operate with smaller budgets and staffing levels than investor-owned utilities. According to Texture, its platform enables co-ops to launch modern grid programs without the need for custom-built technology or lengthy implementations.
“Co-ops kept telling me the same thing,” said Sanjiv Sanghavi. “They wanted to run modern grid programs but didn’t have software built for their scale or budget. A co-op serving 15,000 members shouldn’t have to build custom technology to launch a battery program or manage transformer load. We built Texture so they don’t have to.”
Texture said utilities using the platform can become operational within days by connecting existing systems and organizing the data into a unified operational model. The company also highlighted the platform’s ability to identify transformer overloads, voltage anomalies, and outage risks before failures occur.
Vermont Electric Cooperative is among the organizations using Texture’s platform to monitor its grid and manage distributed battery systems across its service territory.
“As a co-op, our job is to provide affordable, reliable energy to our members. The challenge is that we have so many systems, and the data is spread out. You can’t afford to spend half the day just hunting down the right numbers. Texture helps us bring that visibility into one place, so we’re not chasing information just to figure out what to do next,” said Peter Rossi.
The company also said it has established first-party integrations with more than 50 OEMs, including Tesla, FranklinWH, Honeywell, Ecobee, and SolarEdge. Through those integrations, utilities can access hardware connectivity that might otherwise require minimum deployment thresholds.
Texture also announced a partnership with NRTC, whose network includes approximately 850 utility cooperatives nationwide. Through the partnership, Texture will provide co-ops with access to grid management infrastructure and distributed energy resource management capabilities.
“Our members are under pressure to integrate new resources and manage a growing load, without adding headcount or relying on vendors whose products weren’t built for co-ops. We’ve partnered with Texture to offer the NRTC DERMS powered by Texture, giving co-ops a practical way to coordinate batteries, thermostats, and other distributed resources in real time,” said Milt Geiger.
As part of the financing, Kareem Dabbagh joined Texture’s board of directors.
“Co-ops are managing the hardest grid transitions happening right now. Coal plant closures, battery deployments in rural communities, and data center load growth that wasn’t in anyone’s forecast five years ago. Texture is the infrastructure layer that makes those programs work. That’s why VoLo and Equal came in together on this round and why I joined the board,” Dabbagh said.
Texture said the Series A brings its total funding to approximately $23 million. The company plans to use the new capital to expand its team and further develop the platform.
KEY QUOTES:
“Co-ops kept telling me the same thing. They wanted to run modern grid programs but didn’t have software built for their scale or budget. A co-op serving 15,000 members shouldn’t have to build custom technology to launch a battery program or manage transformer load. We built Texture so they don’t have to.”
Sanjiv Sanghavi, Co-founder and CEO, Texture
“As a co-op, our job is to provide affordable, reliable energy to our members. The challenge is that we have so many systems, and the data is spread out. You can’t afford to spend half the day just hunting down the right numbers. Texture helps us bring that visibility into one place, so we’re not chasing information just to figure out what to do next.”
Peter Rossi, COO, Vermont Electric Cooperative
“Our members are under pressure to integrate new resources and manage a growing load, without adding headcount or relying on vendors whose products weren’t built for co-ops. We’ve partnered with Texture to offer the NRTC DERMS powered by Texture, giving co-ops a practical way to coordinate batteries, thermostats, and other distributed resources in real time.”
Milt Geiger, VP of Smart Grid Solutions, NRTC
“Co-ops are managing the hardest grid transitions happening right now. Coal plant closures, battery deployments in rural communities, and data center load growth that wasn’t in anyone’s forecast five years ago. Texture is the infrastructure layer that makes those programs work. That’s why VoLo and Equal came in together on this round and why I joined the board.”
Kareem Dabbagh, Managing Partner, VoLo Earth Ventures
