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A lot of SF investors are now starting to diversify their bets through long-term holding companies. After working together at Opower through its IPO and subsequent acquisition by Oracle, Michael Sachse and Scott Neuman have teamed up to launch Baseload Holdings and provide a home for energy service companies.
They have raised $25M in committed capital from investors such as Fillmore Partners (led by Founder and Managing Partner Lacey Wismer, who also led Hunter Search Capital). Chris Menier (Fillmore Partners) and Kent Weaver (Founder & CEO of Granite Point Partners) will also be joining the board. Other investors include Will Thorndike, TTCER Partners, Richard Augustyn (Endurance Search Partners), and Peter Flick (Amplify SG).
Michael spent seven years on the management team at Opower, a utility software company that went public and was later acquired by Oracle, where he served as CMO. He then became CEO of Dandelion Energy, the largest geothermal provider in the US, growing revenue from $2M to $50M. Most recently, he founded Airship, a point-of-sale software company for HVAC backed by QED. Michael has spent more than 25 years solving core challenges for utilities and managing large field services teams. He understands what it takes to build, scale, and exit successful companies in adjacent markets.
Scott led sales operations at Opower before becoming a GM and SVP at Oracle Utilities, where his team closed the largest deal at Oracle in two of four fiscal years. He then served as CEO of Kaluza, a global utility billing platform, growing revenue from $3M to $55M and raising $100M from Australia’s largest energy retailer. He has deep operational experience in both software and services, having managed billing operations for utilities worldwide. He understands how utilities buy, what they value, and how to build lasting customer relationships.
They define their mission as providing a long-term home for energy service companies with bright futures. The holding company is built around two related truths: electricity demand is rising, and infrastructure is aging. They are looking for utility service companies doing the hard work of monitoring, improving, and upgrading this infrastructure.
