Overview
- Tem closed an oversubscribed $75 million Series B led by Lightspeed Venture Partners, with TechCrunch reporting a valuation of more than $300 million.
- The company plans international expansion using the new funding, targeting Australia and the United States with an initial launch in Texas.
- Tem runs Rosso, an AI-driven engine that aims to cut intermediary costs by bringing prices closer to wholesale levels, alongside RED, a live neo-utility that showcases the model.
- The company reports more than 2,600 U.K. business customers and advertises up to 30% bill savings, with clients including Boohoo Group, Fever-Tree, and Newcastle United FC.
- Tem says RED has facilitated roughly 2 TWh of transactions and delivered about $35 million in customer savings since November 2024, and it touts lean operations using two AI agents supported by four people.