Danijela Hagblom, Marketing Manager

From Oslo to the World: UtilityCloud Secures €7 Million to Redefine Energy Billing

In the heart of Oslo, a quiet revolution in energy billing is gathering speed. UtilityCloud, a SaaS company founded in 2019 by energy insiders, just announced a €7 million investment round led by Core Eqty. And this isn’t just another funding announcement; it’s the foundation for taking a proven Nordic model global.

UtilityCloud already commands trust where it matters. The platform processes billing and automation for 20% of Norway’s metering points and serves utilities across electricity, district heating, and EV charging. More than one million households and businesses rely on its technology every day. All of this, built bootstrapped, to €4 million ARR in just two years — with zero churn. That’s not luck. That’s product–market fit, discipline, and obsession with customer outcomes.

The capital injection validates what the market has known for some time: UtilityCloud is not simply another billing platform. It’s a category-defining infrastructure play in the energy transition.

“UtilityCloud has demonstrated both deep sector expertise, true customer obsession, and a powerful product–market fit in energy billing,” says Gunnar Robert Sellæg, Partner at Core Eqty. “We’re excited to back their journey as they take Norwegian innovation across Europe and beyond to help drive the digital energy transition worldwide.”

For CEO and Co-Founder, Torbjørn Hompland, the mission is clear
“This capital injection is a strong endorsement of our vision and technology. Scandinavian energy retailers have embraced automation in billing and customer engagement with UtilityCloud, and now we’re ready to help utilities across the globe modernize their operations. Our focus remains on honesty, solution orientation, and quality.”

Sara Rasmussen, Chief Revenue Officer, will spearhead the commercial charge:
“UtilityCloud has a strong foundation with 24 happy platform customers and huge growth potential, especially with such an experienced investor backing us. I’m excited to lead our global expansion and help energy retailers explore new revenue streams, stay compliant with regulation, and increase customer satisfaction — all while reducing cost.”

This is about more than scaling a product. It’s about reshaping how utilities engage their customers at a moment when the energy sector is reinventing itself. Smart metering, electrification, digitalization — the pressure on utilities is immense. UtilityCloud offers them a way not just to cope, but to lead.

With Core Eqty behind them, UtilityCloud is stepping onto the global stage. From Oslo to the world, the future of energy billing just got a name.

Contact
Sara Rasmussen, CRO
sr@utilitycloud.no