How Much Did Turntide Raise? Headquarters, Funding & Key Investors

Turntide, founded in 2013 and headquartered in Sunnyvale, California, has raised a total of $405.7 million across multiple funding rounds: $31.4M in Series A (Nov 2017), $58.7M in Series B (Sep 2020), $225M in Series C (Jun 2021), $10.6M in Series C Bridge (May 2022), and $80M in Series D (Jun 2022). The company develops energy-efficient solutions combining switched reluctance motor technology with programmable IoT controls for commercial and industrial buildings. With 112 employees, Turntide’s investors include CPP Investments, BMW i Ventures, Meson Capital, Monashee Investment Management, and JLL Technologies, supporting global expansion and product innovation.

How Much Did Turntide Raise? Funding & Key Investors

Turntide provides innovative energy management solutions that combine computing and software control with switched reluctance motor technology to optimize energy costs for space conditioning and refrigeration. With programmable IoT controls,

Turntide enables maintenance savings and integrates seamlessly with existing building systems. The company has raised a total of $535M in funding from investors, including CPP Investments, Monashee Investment Management, Meson Capital, BMW i Ventures, and JLL Technologies. It has achieved a current valuation of $1B.

What Is Turntide and What Does It Do?

Turntide, founded by Mark L Johnston, Ryan Morris, Trevor Creary, and Piyush Desai, develops energy-efficient solutions for commercial and industrial buildings. Its innovative systems ensure energy is used only when needed, lowering operating costs while supporting sustainability initiatives.

With a team of 112 employees, Turntide’s technology is implemented across space conditioning and refrigeration applications, providing both cost and energy savings.

How Much Funding Has Turntide Raised?

1. Series A

Amount Raised: $31.4M
Date: November 2017
Lead Investors: Meson Capital
Motivation Behind the Round: To develop initial smart energy management solutions and validate the switched reluctance motor technology.

2. Series B

Amount Raised: $58.7M
Date: September 2020
Lead Investors: WIND Ventures, BMW i Ventures, Meson Capital, JLL Technologies, Future Shape
Motivation Behind the Round: To scale product development, expand market presence, and integrate programmable IoT controls.

3. Series C

Amount Raised: $225M
Date: June 2021
Lead Investors: CPP Investments, Monashee Investment Management, Breakthrough Energy, Suvretta Capital Management, JLL Technologies
Motivation Behind the Round: To accelerate commercialization, grow the customer base, and enhance energy efficiency software and hardware offerings.

4. Series C (Bridge Round)

Amount Raised: $10.6M
Date: May 2022
Lead Investors: SEEIT
Motivation Behind the Round: To support additional operational and product expansion before Series D.

5. Series D

Amount Raised: $80M
Date: June 2022
Lead Investors: OGCI, SEEIT, Fifth Wall, Climate Investment, Captain Planet LP
Motivation Behind the Round: To drive global market expansion, hire talent, and strengthen Turntide’s position in energy efficiency technology.\

Total Funding Raised: $535 Million

Current Valuation: $1 Billion (as on Jun 2022)

Latest Funding Date: Jun 2022

Key Investors

1. CPP Investments

Details: Global investment firm managing public and private assets across multiple sectors.
Investment Focus Areas: Energy, infrastructure, technology
Notable Investments: Turntide, IndoSpace, ReNew Energy Global, VTRM Energia, Kailera Therapeutics.

2. Monashee Investment Management

Details: Venture capital firm investing in early to growth-stage technology companies.
Investment Focus Areas: Sustainability, industrial tech, energy efficiency
Notable Investments: Turntide, QXO Inc., Core Scientific, ServiceTitan, Galaxy Digital.

3. Meson Capital

Details: Growth-stage venture capital firm focused on industrial and energy-efficient technologies.
Investment Focus Areas: Industrial tech, energy optimization
Notable Investments: Turntide, InfuSystems Holdings Inc, Camber Energy Inc, RBW EV Cars.

4. BMW i Ventures

Details: Corporate venture arm of BMW Group focusing on sustainable mobility and energy solutions.
Investment Focus Areas: Clean energy, electric mobility, industrial tech
Notable Investments: Turntide, Alitheon, ChargePoint, Xometry, GaN Systems.

5. JLL Technologies

Details: Investment and innovation arm of JLL focused on real estate and building technology solutions.
Investment Focus Areas: PropTech, energy efficiency, smart building solutions
Notable Investments: Turntide, PROBIS, Roofstock, VergeSense, Safehub.

Where Is Turntide’s Headquarters?

Turntide is headquartered in Sunnyvale, California, United States, a hub for technology and sustainability innovations. The location supports collaboration with strategic investors, partners, and industrial clients.

What’s Next for Turntide?

Turntide aims to expand the adoption of its innovative energy solutions across commercial and industrial buildings, scaling its impact on energy savings and sustainability. With strong backing from top investors and a proven technology platform, the company is well-positioned to lead in the energy efficiency sector while exploring new markets and applications.

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