Quentin Scrimshire, CEO & Co-Founder of Modo Energy: $20 Million Raised to Build the Energy Asset Benchmarking Category

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech's most innovative B2B founders. In today's episode, we're speaking with Quentin Scrimshire, CEO & Co-Founder at Modo Energy, an energy asset benchmarking platform that has raised $20 Million in funding.

Here are the most interesting points from our conversation:

• Pivotal Shifts: Quentin shared the story of Modo Energy's significant pivot from an initial focus on trading power through battery assets to becoming a benchmarking company for the energy sector.
• Strategic Location: Modo Energy's decision to establish its U.S. base in Austin, Texas was influenced by the vibrant technology scene, the lifestyle it offered, and strategic access to the burgeoning renewable energy market fueled by the Inflation Reduction Act.
• Survival Through Innovation: Facing near bankruptcy, Quentin and his team bet everything on a new direction for Modo Energy, focusing on publishing performance benchmarks for energy assets—a move that saved the company.
• Market Validation: The rapid market validation following their pivot, where initial concept testing with potential customers quickly turned into a profitable business model, illustrating the demand for transparent benchmarking in the energy sector.
• Community and Media Strategy: Quentin discussed how Modo Energy invests heavily in media and community, using high-quality video content and large-scale networking events to build brand presence and engage both existing customers and prospects effectively.