SAN FRANCISCO – Mercatus, the leading provider of Investment Lifecycle Management (ILM) solutions to energy producers, developers and financiers, today announced that is has raised $11.7 Million in Series B funding. The round was led by Traverse Venture Partners and TPG’s Alternative and Renewable Technology fund (“TPG ART”), with existing Series A investors Vision Ridge Partners, Trepp, and Augment Ventures.

Josh Green of Traverse Venture Partners and Mark Gudiksen of TPG ART will join the Mercatus Board.

“In the current era of rapid energy industry transformation, we see Mercatus’ ILM solution as a critical enabling technology that accelerates the mass deployment of distributed energy,” says Josh Green. “To lower costs, increase efficiency and remain competitive, leading energy producers have to digitize and streamline the full investment life cycle of their asset portfolio. Mercatus is at the forefront of helping its customers with this transformation.”

The Series B funding follows a year of exceptional customer adoption for Mercatus.

“Many of the largest energy producers are seeing the benefits of digitizing with Mercatus solutions,” says Mark Gudiksen. “Mercatus customers are gaining a competitive advantage of speed and structural cost advantage by using technology to transform their businesses.”

“Mercatus is shaping the intersection of digital technology and industry transformation to accelerate the investment of massive amounts of capital required by the energy industry,” says Haresh Patel, CEO of Mercatus. “We are passionate about providing our customers with a sustainable competitive advantage and the new upper-hand to succeed during this period where the traditional, centralized, grid-based power systems co-exist with the fast-emerging, high-growth distributed generation sector.”


About Mercatus
Mercatus is a cloud-based software company that serves the unique needs of global energy producers. The leader in Investment Lifecycle Management solutions, Mercatus gives producers the power to move faster, gain insight and increase compliance of their advanced energy portfolios. Mercatus’ customers are some of the largest energy companies that collectively leverage the ILM platform to host over 80GW of power, across 75 countries, using solar, wind, biomass, storage, small hydro, energy efficiency, CHP, and geothermal technologies.

About Traverse Venture Partners
Traverse Venture Partners is a purpose-built investment platform exclusively focused on accelerating the transition to more productive, flexible and efficient real estate.  Building on the successful strategy and track record of CCM Energy, a pioneer in real estate-focused growth capital investing, Traverse acts as both a strategic investor and a deployment partner for companies with a proven solution to improve the economic and environmental performance of buildings and the real estate ecosystem.

About TPG Alternative & Renewable Technologies
TPG Alternative & Renewable Technologies (“TPG ART”) is a standalone growth and late-stage venture vehicle of TPG, the global private investment firm, dedicated to developing and deploying alternative and renewable technologies across various sectors and has over $250 million assets under management. TPG is an experienced investor in the area of environmental, social and governance (ESG) within the private equity industry. The firm is also a signatory to the Principles of Responsible Investing (PRI), as well as the Responsible Investment Guidelines by the Private Equity Council, the Guidelines for Disclosure and Transparency in Private Equity, and the European Private Equity and Venture Capital Association (EVCA) Code of Conduct. With over $70 billion of assets under management, TPG has offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo. For more information please visit www.tpgart.com.