Stem is a global leader in AI-driven clean energy storage systems and software services. Founded in 2009 and headquartered in Millbrae, California, the company provides integrated energy storage hardware, edge controls, and its Athena AI-powered analytics platform, which optimizes battery dispatch and aggregates distributed assets into virtual power plants (VPPs). Stem serves commercial, industrial, and utility-scale customers, enabling them to reduce energy costs, increase resilience, and participate in wholesale energy markets. After completing its business combination with Star Peak Energy Transition Corp. in April 2021, Stem became the first publicly listed pure-play smart energy storage company. The company has since pivoted toward a software-and-services-centric business model, expanding its solar asset management capabilities through the 2022 acquisition of AlsoEnergy.
Stem is publicly traded
This company is no longer available on our private secondary market. Shares can be traded publicly under its listed ticker.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2009
Total Funding
$229M
2 rounds
Total raised $229M across 2 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 05-11-2026
Latest Round
Type
SPAC PIPE
Date
April 28, 2021
Amount
$225M PIPE
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| April 28, 2021 | SPAC PIPE | $225M PIPE | — | BlackRock |
| July 24, 2018 | Series D | — | — |
Arun Narayanan
Chief Executive Officer
Doran Hole
Executive Vice President and Chief Financial Officer
Ryan McCool
Chief Technology Officer
David Buzby
Chair of the Board
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Fluence Energy
Energy storage and digital applications company spun out of a Siemens-AES joint venture, providing utility-scale battery storage systems and AI-driven optimization software.
Tesla Energy
Tesla's energy storage and solar division, offering Powerwall and Megapack battery systems alongside Autobidder software for grid services and virtual power plants.
Enphase Energy
Provider of solar microinverters, batteries, and energy management software for residential and small commercial markets.
Sunrun
Residential solar and storage provider with a growing virtual power plant business aggregating distributed home batteries.
Eos Energy Enterprises
Manufacturer of zinc-based long-duration battery energy storage systems for utility-scale and commercial applications.
Sonnen
German residential and commercial battery storage company offering smart energy management and virtual power plant aggregation services.
Stem became publicly traded on the NYSE under the ticker symbol STEM on April 29, 2021, following the completion of its business combination with Star Peak Energy Transition Corp. (NYSE: STPK) on April 28, 2021. The transaction generated over $600 million in gross cash proceeds, including approximately $383 million from Star Peak's trust account and $225 million from a PIPE anchored by BlackRock, Van Eck, Adage Capital, Electron Capital Partners, and Senator Investment Group. The company has since faced significant operational and financial challenges, including a 69% revenue decline in 2024 as it pivoted away from battery hardware toward software and services, a 27% workforce reduction announced in 2025, and a sharp decline in share price.
Stem shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker to place an order.
Stem raised $229M across 2 disclosed funding rounds prior to its public listing.
Stem is headquartered in Millbrae, CA.
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