Monday, September 30, 2013

TechStars Gets Exit At Power2Switch

Boulder-based startup accelerator TechStars has seen another exit in its batch of startups, this time out of Chicago, with portfolio company Power2Switch. Online energy marketplace provider Choose Energy said it acquired TechStars portfolio company Power2Switch this morning, to acquire the company's technology for automatically comparing electric rates and switching electricity providers for that consumer. Financial terms of the biuy were not disclosed. Power2Switch had raised $1.3M in funding from Kleiner Perkins Caufield & Byers (KPCB) and Stephens Capital Partners, and was at TechStars Chicago. The firm actually had been incubated at Excelerate Labs prior to the acquisition of Excelerate by TechStars. Choose Energy is based in Texas.