Molecule Raises $12 Million for Energy Trading and Risk Management Tech

By Bruce Harpham Sunday, May 16, 2021

Molecule, a startup software company based in Texas, has closed a $12 million Series A startup funding round. The software provides solutions for energy trading and risk management for business customers in the power, natural gas, chemicals, cryptocurrency, and other business segments. However, the company is mainly focused on customers in electricity and related energy business segments like natural gas today.

Abstract image showing risk management and assessment for business investment.

"In 2020, we realized that electricity—the growth commodity of the 2020s—represented over half of Molecule's customer base, and we decided to double down," said Sameer Soleja, founder and CEO of Molecule. Before launching the startup business in 2012, Soleja worked at Stryve Advisors (an IT consulting company ) and SunGard Consulting Services (a technology consulting company serving business customers). With the additional funding, the company plans to add support for counterparty contracts and increased back-office functionality.

Investing in Molecule

The Houston startup business has received funding from the Houston Angel Network, the Mercury Fund, and the SURGE Accelerator. Mercury led the Series A investing round and provided the largest amount of funding to the startup at this point.

"We led the seed round of Molecule upon their formation and are excited to participate in their Series A. Molecule's success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s," said Blair Garrou, co-founder and Managing Director of Mercury. ETRM is an abbreviation meaning energy trading and risk management and CTRM is a term referring to commodity trading and risk management.

Based in Houston, the Mercury Fund has more than $300 million in assets under management. The investing fund has a portfolio of more than 150 investments, including numerous successful exits. The investing fund has more than a dozen successful exits, including BlackLocus (a software company for online retailers acquired by the Home Depot) and Swift BioSciences (a molecular biology company acquired by Integrated DNA Technologies).

Time Savings for Business Customers

Molecule is able to deliver time savings to its business users. For example, the startup company states that one of its independent power producer customers was able to save four to five hours per week in work effort. The power producer needed the ability to analyze large amounts of pricing data in the gas and power business to answer questions and support M&A deals.

Meeting IT Security Expectations

Molecule business users trust the platform with highly sensitive business data like pricing. Therefore, the startup company has had to invest significant resources in IT security protections. The company uses well-known technology providers like Amazon Web Services to house the Molecule database. Furthermore, the Molecule database is protected by two-factor authentication and a database center that meets SOC-1, SOC-2, and SOC-3 standards.

Growth Potential

The startup software company has significant room to grow in the energy trading and risk management business. According to a May 2021 report issued by 360 Research Reports, the global energy trading and risk management business was worth $1.4 billion in 2020. By 2027, the business segment may grow to $1.9 billion in value. Major business players in the energy trading and risk management field include Accenture, FIS, and SAP.

About the Author


Headshot for author Bruce Harpham

Bruce Harpham is an author and marketing consultant based in Canada. His first book "Project Managers At Work" shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.

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