Arcadia names Sarah Bloom Raskin and John Rettig to the board of directors
Raskin, a professor of the practice of law at Duke University School of Law, served as a member of the Federal Reserve Board of Governors from 2010 to 2014, and was deputy secretary of the Treasury from 2014 to 2017. Rettig is executive vice president and chief financial officer of Bill.com, a provider of cloud-based software for automating financial operations.
“Sarah and John are recognized leaders whose experience across public policy and technology will help Arcadia accelerate our mission,” said Kiran Bhatraju, Arcadia’s founder and CEO. “Sarah is a long-time champion of solutions that support Americans’ shared prosperity and efforts to mitigate climate risk. John has a proven track record helping software and payments platforms scale. I look forward to working with both of them to accelerate decarbonization for the companies and consumers we serve."
“The shift to renewable energy not only contributes to combating climate change – it also spurs innovation, energy security and economic opportunity,” said Raskin. “Arcadia’s energy data is foundational to measuring climate risk and I’m excited to join in supporting the path breaking efforts of Arcadia’s exemplary board and team.”
“With my background in building global, analytically-driven businesses and my passion for the environment, Arcadia is a great fit,” said Rettig. “Kiran and the team are creating the foundational software platform for the zero-carbon economy, and I’m looking forward to helping the company continue to scale.”
Arcadia now has a total of five independent directors. Along with Raskin and Rettig, they are Rising Team CEO Jennifer Dulski, Charm Industrial CEO Peter Reinhardt, and Rewiring America Founder Alex Laskey.
The expansion of Arcadia’s board caps a 2022 that saw significant momentum. In May, Arcadia closed a fundraising round of $200 million, led by J.P. Morgan’s Sustainable Growth Equity Team, and also acquired Urjanet, the largest utility data provider in the world. This summer, Arcadia became the first and only community solar provider with more than 1 GW of capacity under management. And most recently, Arcadia announced would serve as the utility data provider for Salesforce’s Net Zero Cloud platform.
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