Arcadia raises $200M led by J.P. Morgan’s Sustainable Growth Equity Team

PR Newswire, Washington, D.C.
on May 10, 2022

Arcadia, the technology company empowering energy innovators to fight the climate crisis, today announced the raise of a $200 million funding round. The round was led by an inaugural investment from J.P. Morgan Asset Management’s (NYSE: JPM) Sustainable Growth Equity Team. The financing will help accelerate the impact of Arcadia’s data and API platform, Arc, by expanding data coverage and new product development to empower companies to monitor, report, and act on their carbon impact.

Access to comprehensive, accurate utility data has been a fundamental barrier for businesses looking to build climate tech and innovative energy products. Arcadia solves this problem by providing companies with easy-to-use data, clean energy, and APIs all under one roof. Currently, more than 100 innovators — including Ford, EnelX, Aurora Solar, and STEM — across verticals such as EVs, solar, storage, and Smart Home IoT, use Arc APIs to deliver better energy experiences to their customers and decarbonize the grid. Today’s fundraising will allow Arcadia to invest in broadening data coverage to include commercial utility data and expanding Arc to new use cases, including assisting companies in achieving their sustainability goals.  

The financing round features a series of new investors, including J.P. Morgan’s recently launched Sustainable Growth Equity Team, with participation from additional new partners Keyframe Capital, Broadscale Group, and Triangle Peak Partners, and existing partners Camber Creek, Tiger Global Management, Wellington Management, Salesforce Ventures, Drawdown Fund, MCJ Collective, and more. 

“Arcadia is pursuing one of the largest software opportunities in the clean energy transition,” said Tanya Barnes, Co-Managing Partner, J.P. Morgan Sustainable Growth Equity. “The company’s technology platform plays a vital role in decarbonizing real estate, the grid and providing renewable energy access to underserved communities.”

“Arcadia is an exceptional first example of Sustainable Growth Equity’s mandate to invest in climate technologies that deliver measurable solutions to the industries that produce the greatest greenhouse gas emissions.  We look forward to being a value-added partner to Arcadia, as they leverage J.P. Morgan’s in-house sustainability resources, global client network, and robust data intelligence capabilities,”  said Osei Van Horne, Co-Managing Partner, J.P. Morgan Sustainable Growth Equity.

Today’s announcement adds to Arcadia’s significant business momentum. The company delivered 155% YOY organic revenue growth in 2021, launched the Arc platform in November, passed the 700MW managed milestone in April as the leading manager of community solar in the United States and added Benjamin Stein as Chief Product Officer and Jennifer Dulski and Peter Reinhardt to the Arcadia Board of Directors. Just last week, Arc was recognized as a Finalist in the Energy Category of Fast Company's 2022 World Changing Ideas Awards.

Read more about how today’s news will further Arcadia's vision of a 100% decarbonized and decentralized energy future on the Arcadia blog. To learn more about Arcadia and the Arc platform, please visit

To learn more about JPMorgan Chase’s recently announced $2.5 trillion target over the next 10 years to advance climate action and sustainable development to accelerate the transition to a low-carbon economy, please visit

About J.P. Morgan Sustainable Growth Equity

J.P. Morgan Sustainable Growth Equity ("SGE") is the sustainability-focused late stage venture and growth equity investment arm within J.P. Morgan Private Capital. SGE invests in private high growth companies that produce measurable, science-based commercially driven positive climate outcomes for the four industries that account for >80% of global GHG emissions: transportation/supply chain, real estate/built environment, industrials/manufacturing, and food/agriculture industries. The strategy leverages J.P. Morgan’s global scale, sustainability expertise, industry connectivity, and data intelligence to help drive value for companies and investors. J.P. Morgan Private Capital provides customized financing solutions for private companies across the capital structure and is comprised of a growth equity arm and a private debt business. J.P. Morgan Private Capital is part of J.P. Morgan Global Alternatives, the alternative investment arm of J.P. Morgan Asset Management.  With more than 50 years as an alternatives investment manager, US$215 billion in assets under management and more than 700 professionals (as of December 31, 2021), J.P. Morgan Global Alternatives offers strategies across the alternative investment spectrum including real estate, private equity, private credit, hedge funds, infrastructure, transportation, timber and liquid alternatives. Operating from offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives. For more information, visit

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