// startup autopsy
EnerNOC
Demand response's biggest name got blindsided by the regulation it helped create.
runway zeroFire Sale
Distressed acquisition below last-round valuation
| Founded | 2003 |
|---|---|
| Closed | 2018 |
| Country | USA |
| Sector | Cleantech |
| Founder | Tim Healy, David Brewster |
45%
55%
Key Events Timeline
2003
FOUNDING
EnerNOC founded in Boston by Tim Healy and David Brewster to aggregate commercial demand response.
2014
REGULATORY ACTION
D.C. Circuit Court vacates FERC Order 745 in May 2014, eliminating core demand response revenue stream.
2017
LAYOFF
Revenue drops to under $200M; company lays off 15% of workforce and attempts pivot to energy intelligence software.
2018-08
ACQUISITION ATTEMPT
Enel acquires EnerNOC for $300M, well below its peak market cap, effectively ending its independent existence.
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