I am excited to announce that Molecule has just closed a $12M Series A, and plan to use the investment to make Molecule even better.
We’ve come a long way since our founding in 2012. We’ve added support for many commodities, deal types, and geographies. Along the way, we’ve grown faster and leaner than many of the companies that came before us, added dozens of customers to our portfolio, and in late 2020, were named the #1 SaaS vendor in the ETRM/CTRM industry, full stop. Our goal is to become the #1 ETRM for electricity — and then the #1 ETRM vendor worldwide.
Last year, we noticed that over half of our customers trade power, and we doubled down with the launch of our Elektra power package to help accelerate the energy industry’s transition to electricity and renewables. This investment helps us do just that. With it, we plan to ramp up feature development, specifically in the following areas:
- New features related to physical power and full-lifecycle renewable credits management
- Enhanced back-office functionality, accounting, and settlements for all commodities, plus support for Counterparty contracts
- Simplification and enhancement of Product and Counterparty management
- New features focused on enterprise customers, like data warehousing and third-party audit certifications
- Support for new deal types, commodities, and other securities
The investor group includes Mercury, a Houston-based early-stage venture capital firm that was an early believer in the Molecule team. We are grateful for their ongoing support as well as the support of our customers.
I can’t wait to show you what we cook up; our team is looking forward to making your work life even easier.