On September 7, 2023, digital energy company Arbor Energy announced it has raised a $9 million seed round led by First Round Capital, with participation from Obvious Ventures, Spring Tide, and strategic angels such as Jon Stein (Co-Founder of Betterment), JD Ross (Co-Founder of Opendoor), Patrick Maloney (Founder of Inspire and Clean Industry Ventures), and Kiran Bhatraju (Co-Founder and CEO of Arcadia), among others. Wilson Sonsini Goodrich and Rosati advised Arbor on the transaction.

Arbor is the first robo-advisor for energy, saving people an estimated $500 in the first year by monitoring how much they pay for energy and helping them automatically switch to a cheaper rate with the same utility.  Today, Arbor is available to homeowners and renters across 50 million households in deregulated energy markets, which includes most of the Northeast, Midwest, and Texas. Arbor founder and CEO Andrew Meyer says that the energy robo-adviser is only the first product and that Arbor plans to develop more tools around energy and data.

The Wilson Sonsini team that advised Arbor on the transaction includes:

Corporate
Bob O’Connor
Brady Berg
Kate Georgen
Viet Nguyen
Angela Chan
Tamra Mast

Employee Benefits and Compensation
Briza Sanchez

Technology Transactions
Rosalind Schonwald
Mary O’Brien

Tax
Greg Broome

For more information, see Arbor’s announcement and additional press coverage from Axios.