Technology partners

Rubicon Technology Partners Completes Sale of Majority Stake in Uplight for $1.5 Billion

BOULDER, Colorado–(BUSINESS WIRE)–Rubicon Technology Partners, a private equity firm specializing in enterprise software investments, announced that it has completed the sale of its majority stake in Uplight to a consortium of investors, co-led by Schneider Electric, AES and a group of investors led by Huck Capital, including Coatue and Inclusive Capital Partners. Uplight is valued at $1.5 billion in the transaction. The deal was first announced in March 2021.

Uplight, a certified B Corp company, is the leading software partner for energy providers transitioning to the clean energy ecosystem. Using data-driven insights to personalize and simplify the customer experience, Uplight solutions help utilities reduce base load by changing consumer behavior, orchestrate network-connected devices that maintain customer bills at a low level while adapting in real time to changing network conditions and accelerating customer adoption. renewable energies, electric vehicles and energy management solutions.

Following its investment in November 2018, Rubicon helped help Uplight become the market leader by making five strategic acquisitions, investing in industry-leading product development and enhancing the company’s go-to-market capabilities, all contributing to a significant acceleration of the company. growth by becoming the primary software provider to the largest electric and gas utilities in North America.

“Rubicon has been a great partner, supporting our ambitious vision to build the leading software provider supporting the transition to the clean energy ecosystem,” said Adrian Tuck, CEO of Uplight. “We greatly appreciate Rubicon’s assistance over the past few years in guiding Uplight. Success.”

Rubicon will remain a minority investor in Uplight.

“We were fortunate to have the opportunity to build a market-leading company in partnership with Adrian and the Uplight team,” said Alex Kleiner, Partner at Rubicon Technology Partners. “We are thrilled with Uplight’s continued growth and success.”

Goldman, Sachs & Co. LLC served as exclusive advisor to Uplight.

About Rubicon Technology Partners

Rubicon Technology Partners invests in enterprise software companies with proven products and talented management teams to help grow and scale their businesses. Rubicon enables companies to adapt to changing business demands as they grow and evolve using a proven set of proprietary processes, best practices, and engagement model at the portfolio level. Rubicon has over $2 billion in assets under management and is headquartered in Boulder, Colorado, with additional offices in New Haven, Connecticut and Palo Alto, California. For more information, please visit www.rubicontp.com.

About Uplight

Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to electricity providers’ decarbonization goals while helping customers save energy and reduce costs, creating a more sustainable future for all. Using the industry’s only comprehensive, customer-centric technology suite and critical energy expertise across all disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and utility utilities. gas around the world. By enabling energy providers to achieve critical outcomes through data-driven customer experiences, providing control at the network edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its customers to make energy more sustainable for every community. Uplight is a Certified B Corporation. To find out more, visit us at www.uplight.comfind us on Twitter @Uplight or on LinkedIn at linkedin.com/company/uplightenergy.