CARMA
CARMA Corp is a Canadian utility submetering and managed billing provider serving multi-residential, commercial, and institutional properties across Canada and the USA through proprietary EMP+ hardware and managed billing services.
- Company typePrivate
- Founded1977
- HeadquartersLindsay, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
What CARMA does
CARMA Corp is a Canadian utility submetering and managed-billing provider founded in 1977 and headquartered in Lindsay, Ontario. The company designs, manufactures, and services electronic submetering systems for electricity, water, natural gas, and thermal energy across multi-residential (condominiums, apartments), commercial (office, retail), and institutional (school boards, healthcare, government) properties in Canada and the USA, supported by five regional offices and an Ontario-based call centre serving both Canadian and US customers.
CARMA's technology stack centres on its proprietary EMP+ (Enhanced Multi-Customer Meter Plus) hardware, a compact modular multi-customer meter that supports up to 18 mechanical meters in a single panel without additional hardware. The patented EMP+ COMBINER accessory groups electrical loads by ASHRAE/LEED category to streamline compliance with green-building standards. Software layers include the CARMA METER MANAGER central energy management database, the CARMAplus+ reporting and sustainability web portal, and customer-facing Resident Account and Consumption portals. The platform processes over 11 million daily meter reads across the installed base, with end-market validation including the Toronto District School Board (591 schools, 48 million square feet) and documented consumption reductions of up to 26% in multi-residential portfolios.
The company operates three revenue streams: managed billing and collection services (administration fees, monthly on-bill charges, and cost recovery from tenants); hardware sales and installation of submetering equipment (with finance options including no-cost or purchase arrangements); and subscription-based data reporting and sustainability analytics. Customer acquisition is direct, via regional sales teams and industry association partnerships (ACMO, BOMA, CCI, Federation of Rental Housing Providers). Since TerraNova's majority acquisition in 2019, CARMA has executed four bolt-on acquisitions - Priority Submetering Solutions (2021), Spectrum Building Services (2021/2022), Undercurrent (2023), and Greensource (2024) - to extend capability into building services, energy management, and green energy solutions.
CARMA firmographics
Firmographics- Name
- CARMA
- Legal name
- CARMA Corp
- Website
- https://www.carmacorp.com/
- Company type
- Private
- Founded year
- 1977
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- CARMA Corp is a Canadian utility submetering and managed billing provider serving multi-residential, commercial, and institutional properties across Canada and the USA through proprietary EMP+ hardware and managed billing services.
- Ownership category
- akta.pro rank
CARMA industry classification
Industry- Product category
- Utility Submetering and Billing Services
- NAICS
- Totalizing Fluid Meter and Counting Device Manufacturing (334514), Other Measuring and Controlling Device Manufacturing (334519)
- SIC
- Totalizing Fluid Meters & Counting Devices (3824), Industrial Instruments For Measurement, Display, And Control (3823)
- akta.pro primary industry
- Submetering & Multi-Unit Property Billing (MUDs, submeters, RUBS, landlord/tenant billing) (EUANAIAK)
Keywords
Where CARMA is headquartered
LocationHeadquarters
- HQ city
- Lindsay
- HQ country
- Canada
- HQ region
- North America
Offices5 records
Markets served
CARMA business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Billing and Collection Services: CARMA reads submeters installed at client sites and bills individual suites/tenants for actual utility consumption. The company handles the complete billing cycle including meter reading, bill generation, payment processing, and call centre support. Revenue comes from administration charges, monthly on-bill fees, and cost recovery from tenants.
- Submetering Equipment and Installation: Sale and installation of submetering hardware including electricity submeters, water meters, natural gas meters, and the EMP+ advanced metering system. Finance options available including no-cost solutions or equipment purchase with short-term billing agreements.
- Data Reporting and Sustainability Analytics: Provides consumption data reporting, graphical load profile representations, and sustainability reporting to support building management and green building certifications (LEEDS, ASHRAE 90.1).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | One time/ perpetual license | Administration Charges - New Account Enrollment |
| Subscription | Monthly | Monthly On-Bill Fee |
| Usage-based | Monthly | Utility Billing Based on Actual Usage |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
CARMA product offering
Product offeringCore offering
CARMA manufactures and supplies electronic submetering equipment for electricity, water, natural gas, and thermal energy, and delivers end-to-end utility billing and consumption analytics for multi-residential, commercial, and institutional buildings. The company provides the EMP+ advanced multi-customer meter, the CARMA METER MANAGER energy management platform, and the CARMAplus+ reporting portal, combined with managed billing, collection, and customer support services across Canada and the USA.
Product overview
CARMA provides a comprehensive utility submetering ecosystem combining hardware products (EMP+ advanced multi-customer meter, EMP+ COMBINER accessory) with software platforms (CARMAplus+ data/reporting portal, Resident Account Portal, Consumption Portal) and services (billing/collection, technical services). The company serves residential (multi-residential, condominium, apartment), commercial (office, retail), and institutional markets across Canada and the USA with end-to-end solutions spanning meter installation, consumption data reporting, billing services, and sustainability analytics.
Differentiator
Problem solved
Functional benefit
Brands
- CARMA Meter Manager: Submetering system that monitors and reports utility consumption across buildings.
- EMP+
- CARMAplus+
Products and services
- EMP+ Advanced Multi-Customer Meter An advanced multi-customer meter that revolutionizes traditional metering panels with streamlined installation and optimal operational efficiency. Features a compact modular design with vertical and horizontal stacking, fewer boxes, simplified conduit routing, and the ability to connect and read up to 18 mechanical meters (water, gas, thermal) without additional hardware. Used by property developers, owners, and managers across multi-residential, commercial, and institutional buildings.
- EMP+ COMBINER Accessory Patented accessory that transforms the EMP+ into a cost-effective solution to meet LEED, ASHRAE 90.1, and ASHRAE Guideline 14 requirements for measurement and verification of buildings to meet energy conservation targets. Groups electrical loads by ASHRAE/LEED category while reducing required metering hardware. Used by commercial and institutional building owners pursuing green building certification.
- CARMAplus+ Web Portal
Quantifiable outcome
- Up to 26% reduction in consumption across multi-residential portfolio
- +5 more outcomes
Companies that use CARMA
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles2 records
CARMA technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
CARMA partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Spectrum Building ServicescoreCARMA acquired Spectrum Building Services as part of major acquisitions (2021-2024), integrating their services into CARMA's submetering and billing ecosystem.
Scale indicators8 records
Recent moves8 records
Expansion highlights5 records
CARMA competitors and assessment
Company assessmentBroad incumbents
- Itron Inc. Itron is a large global provider of smart utility metering, AMI networks, and data-management software for electricity, gas, and water utilities. While its primary customers are utilities rather than building owners, its metering and data platforms ultimately overlap with CARMA's measurement-and-data business and represent a potential future competitive threat from utility-side deployment.
- Schneider Electric: Schneider Electric offers a broad portfolio of commercial building energy-management, submetering (e.g., PowerLogic), and sustainability-analytics products targeting the same building owner and facility manager buyers CARMA serves. Its EcoStruxure platform increasingly bundles submetering with cloud analytics, raising the competitive bar on CARMA's CARMAplus+ portal.
- E-Mon (a Honeywell brand): E-Mon, now part of Honeywell, is an established North American submetering brand offering electric meters, communications, and reading/billing software to commercial and multi-tenant properties. It competes with CARMA on commercial electrical submetering hardware and on multi-tenant utility data services.
- Badger Meter: Badger Meter is a leading North American manufacturer of water-flow metering and AMI solutions for municipal and multi-unit applications. While primarily a hardware and AMI company rather than a billing-services provider, its water submetering products compete directly with CARMA's water submeter portfolio in commercial and residential deployments.
- Leviton Manufacturing: Leviton is a large incumbent electrical products manufacturer with a substantial submetering and energy-monitoring product line (VerifEye) serving commercial and industrial customers. While diversified beyond submetering, Leviton competes head-to-head with EMP+ in electrical submeter hardware and works with similar building/facility end users.
Direct peers
- Trinity Energy Solutions: Trinity Energy Solutions provides submetering, utility billing, and energy-management services to multi-unit residential and commercial buildings in Canada. Its bundled hardware-plus-billing operating model and target customer base overlap closely with CARMA's Multi-Residential and Commercial Solutions.
- Q Factor Submetering Solutions: Q Factor is a Canadian Measurement Canada–approved submetering and billing services provider focused on the same multi-residential, condominium, and commercial markets CARMA serves. The two companies compete directly on installation, billing, and readout services for property owners across Canada.
- Quadlogic Controls Corporation: Quadlogic is a leading US manufacturer and service provider of multi-tenant submetering systems for apartments, condominiums, and commercial properties, and is one of CARMA's closest North American functional analogues. Both companies provide measurement Canada/US-grade submeter hardware together with remote reading and tenant billing.
- EnerCare Solutions: EnerCare is one of the largest Canadian providers of submetering and utility-billing services for multi-residential properties, directly competing with CARMA across the same condominium, apartment, and commercial segments. Both companies combine meter hardware, installation, and recurring billing services for property owners.
Emerging players
- DENT Instruments: DENT Instruments is a US-based manufacturer of power and energy submetering products (PowerScout, ELITEpro) targeting commercial, industrial, and multi-tenant applications. It represents a focused, technology-led challenger with overlapping products but a more limited service/billing offering than CARMA.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CARMA social profiles
Digital presenceCARMA compliance and trust
Trust signalCompliance4 records
CARMA financial estimates
Financial estimateRevenue estimate
Valuation estimate
CARMA leadership team
Management profileNumber of profiles
Profiles6 records
CARMA subsidiaries and ownership
Company hierarchySubsidiaries4 records
CARMA funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CARMA M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CARMA
What does CARMA do?
CARMA manufactures and supplies electronic submetering equipment for electricity, water, natural gas, and thermal energy, and delivers end-to-end utility billing and consumption analytics for multi-residential, commercial, and institutional buildings. The company provides the EMP+ advanced multi-customer meter, the CARMA METER MANAGER energy management platform, and the CARMAplus+ reporting portal, combined with managed billing, collection, and customer support services across Canada and the USA.
Is CARMA a public or private company?
CARMA is a private company. It is classified as private equity controlled and is currently operating.
When was CARMA founded?
CARMA was founded in 1977. It employs 101 to 250 people.
Where is CARMA based?
CARMA is headquartered in Lindsay, Canada, in the North America region.
How does CARMA make money?
Three revenue lines are on record. Billing and Collection Services are the primary driver. The others are submetering Equipment and Installation and data Reporting and Sustainability Analytics.
Who are CARMA's main competitors?
Broad incumbents on record are Itron Inc., Schneider Electric, E-Mon (a Honeywell brand), Badger Meter and Leviton Manufacturing. Direct peers are Trinity Energy Solutions, Q Factor Submetering Solutions, Quadlogic Controls Corporation and EnerCare Solutions. DENT Instruments is listed as an emerging player.
Does CARMA have an API?
No public API is recorded for CARMA.
What industry is CARMA in?
CARMA's product category is Utility Submetering and Billing Services. Its primary akta.pro industry code is EUANAIAK, Submetering & Multi-Unit Property Billing (MUDs, submeters, RUBS, landlord/tenant billing). Its NAICS code is 334514 and its SIC code is 3824.