Opower Sees Good Prospects for its Energy Management Solutions
FREMONT, CA: Opower, a provider of SaaS services to businesses in utility sector, has its Initial Public Offering (IPO) and raises $116 million, reports Utilityproducts. The company provides a comprehensive solution that combines cloud, Big Data and behavioral science and helps its clients to reduce the power consumption, that in turn help their customers to reduce the same.
Its Opower 5 Flex helps the clients in transforming Big Data into personalized customer experiences. Backed by the power of computer science, behavioral science and data science, the Opower platform provides the end-users with more visibility, flexibility and personalization in energy management.
The Opower platform synchronizes delivery of millions of outbound messages across multiple channels such as email, post mail, SMS and IVR and enables the end-user with a single control interface. It sends time-based and contextual usage alerts related to energy consumption to the end user. The Opower 5 platform allows the clients to develop new functionality on the platform using over 35 platform-integrated APIs.
Thermostats are integrated with Opower’s behavioral science and data analytics system giving fine grained information to the end-users. The platform translates huge mass of data collated from Advanced Metering Instruments, network-enabled thermostats, energy consumption tracking devices and digital engagement channels into personalized and actionable insights for the users. Utilities strengthened by the power of Opower systems provide customers with better understanding of energy consumption and its management.
The company was established in 2007, headquartered in Arlington and since then has helped people around the world to cut down carbon dioxide by over 6 billion pounds besides saving 4 billion kWh of energy that amounts to $445 million. Opower serves 93 utility partners spread across 8 countries.