Grid-modernization demand has drawn a new climate-focused investor to a simulation software provider embedded across the U.S. power system.

General Atlantic’s BeyondNetZero fund has made a growth investment in PowerGEM, a Clifton Park, New York-based company that supplies transmission planning and market analysis tools to every U.S. power system operator and many of the largest utilities, power producers, and energy developers.

The deal also includes PowerGEM’s acquisition of Telos Energy, an engineering consultancy specializing in complex power system analysis and integrated re.

Founded in 2000, PowerGEM has increasingly applied artificial intelligence to improve forecasting accuracy and expand scenario analysis across its simulation software and technical services.

The company serves customers throughout North America from offices in Cambridge, Massachusetts; Hoover, Alabama; and Milwaukee, Wisconsin, in addition to its headquarters.

TA Associates, which first invested in PowerGEM in 2024, will remain a shareholder alongside General Atlantic.

Since TA’s initial investment, PowerGEM has expanded its product suite and completed four acquisitions to broaden its energy value chain expertise.

Telos Energy, founded in 2019 by Matthew Richwine and Derek Stenclik, represents the latest add-on.

Both co-founders will join PowerGEM’s leadership team.

Lazard served as financial advisor to PowerGEM and TA.

Goodwin Procter LLP provided legal counsel to PowerGEM and TA, while Paul, Weiss, Rifkind, Wharton & Garrison LLP advised General Atlantic.