United States · Series D startup

Who invested in Stem

9 rounds we have observed, with the 14 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

AIEducationFintech

Funding summaryUpdated 26 Oct 2026

$368Mraised across 9 rounds since 2011, from 9 sources

$2.9MDebt$10MSeries A$15MSeries B$27MSeries B$12MSeries C$33MSeries C$8.0MSeries A$80MSeries D$180MSeries D
Latest round
Series D, $180MJun 2018
Step-upi
2.3×
Investors
14
See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

20112012201320142015201620172018
$2.9MDebt$10MSeries A$15MSeries B$27MSeries B$12MSeries C$8.0MSeries A$80MSeries D$180MSeries D
First round
Debt, $2.9M
Apr 2011
Biggest round
$180M
Series D · Jun 2018
Usual gap between rounds
12 months
the median of 8

The rounds

  1. Jun 2018
    Series D$180M2 new
    • BNP Paribas
    • Magnesium Capital/ Ontario Teacher's Pension Plan

    Reported by FinSMEsSEC filing: $6.5M sold, first sale Sept 2016

  2. Jan 2018
    Series D$80M2 new

    Reported by FinSMEsSEC filing: $82M sold, first sale Jan 2018

  3. Jun 2017
    Series A$8.0M2 new

    Reported by FinSMEsSEC filing: $2.7M sold, first sale Sept 2016

  4. Aug 2015
    Series C$33M1 new
    • RWE Supply & Trading

    From a historical funding record

  5. Apr 2015
    Series C$12M1 new5 returning

    From a historical funding recordSEC filing: $16M sold, first sale Mar 2015

  6. Jan 2015
    Series B$27M2 new

    From a historical funding recordSEC filing: $16M sold, first sale Mar 2015

  7. Dec 2013
    Series B$15M2 new1 returning

    Reported by finsmes.com

  8. Apr 2012
    Series A$10M2 new

    Reported by finsmes.com

  9. Apr 2011
    Debt$2.9M

    No investor was named in the report.

    Reported by sec.gov

Founders and team

From the SEC filings it signed: 2 on the team.

  • John CarringtonExecutive Officer, Directori
  • William BushExecutive Officeri

On the board, as filediAnup JacobCatherine WainwrightDavid BuzbyGo MizoguchiMichael SmithOlivia SteedmanPaul LeggettZeb Rice

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Everyone who backed them

Angeleno GroupVC firm3rounds
GE VenturesCorporate VC2rounds
Total Energy VenturesVC firm2rounds
Constellation EnergyVC firm2rounds
IberdrolaGrowth equity2rounds
Temasek HoldingsVC firm1round
BNP ParibasVC firm1round
Mitsui Global InvestmentCorporate VC1round
Evolution MediaVC firm1round
Greener CapitalVC firm1round
Activate Capital/ Ontario Teachers’ Pension Planno record of our own yet1round
Magnesium Capital/ Ontario Teacher's Pension Planno record of our own yet1round
RWE Supply & Tradingno record of our own yet1round

Missing a round, or an investor who was in one? Tell us.

Also claim to have backed them

These 7 firms list Stem as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

Aspect VenturesVC firmPer its own site
InReach VenturesVC firmPer its own site
PUSH VCVC firmPer its own site
Fourward VenturesVC firmPer its own site
IECP VenturesVC firmPer its own site
Kombo VenturesVC firmPer its own site
Magnesium CapitalPrivate equityPer its own site

Quick answers about Stem

Who invested in Stem?

Stem's investors include Angeleno Group, GE Ventures, Total Energy Ventures, Constellation Energy and Iberdrola, and 9 more on record.

How much has Stem raised?

Stem has raised $368M across 9 rounds since 2011.

When did Stem last raise?

Stem's most recent round was a Series D of $180M in Jun 2018.

What was Stem's biggest round?

Its most recent round, $180M in Jun 2018, is also its largest on record.

Who backed Stem first?

Stem's first round on record, in Apr 2012, was backed by Angeleno Group and Greener Capital.

What stage is Stem at?

Stem's latest named round is a Series D, in Jun 2018.

Where is Stem based?

Stem is based in the United States.

Companies like Stem

In the same sector, and raised in the last eighteen months.

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