Light Secures $46 Million to Scale Embedded Electricity Platform

The funding round, led by Matrix with participation from Activate Capital and several previous backers, brings the company’s total capital raised to approximately $60 million. Light’s platform functions as the regulated electricity provider, offloading the regulatory, procurement, and grid-integration burdens that typically prevent companies from launching their own energy services. By managing the complex energy stack, the startup allows partners in sectors like fintech, proptech, and mobility to launch branded electricity offerings in as little as two weeks.

Light is now leveraging its membership in the PJM wholesale market to push operations into New Jersey, Pennsylvania, and Illinois. The company has already captured a significant market share, currently supporting over 30% of U.S. residential solar sales and reaching more than 1 million multi-family units. With revenue increasing tenfold over the past 12 months, CEO Baker Shogry plans to double the company’s 35-person workforce to support its broader geographic rollout and the development of new battery and EV-charging products.