Multifamily Utility Company

What Multifamily Utility Company does

Multifamily Utility Company, operating as Anchor Utility (formerly Banyan Utility), is a private utility submetering and billing company founded in 2007 and headquartered in San Diego, California. The company provides two core billing methodologies — Submetering (individual unit meters for direct consumption tracking) and Ratio Utility Billing System (RUBS, allocation-based billing using factors such as unit size or occupancy) — for apartment communities, new construction developments, single-family build-to-rent properties, and student housing. A portfolio of ten complementary services (Convergent Billing, Utility Rate and Tariff Analysis, Invoice Auditing, Expense Management, Benchmarking, Energy Audits, Energy Procurement, Meter Maintenance, Vacant Cost Recovery, and Collections) extends the offering into full-spectrum utility expense management.

The underlying technology combines physical submeter hardware installation and maintenance with an online automated meter reading and billing platform, supported by self-serve resident and manager portals. Anchor generates revenue through a mix of usage-based submetering service fees, recurring RUBS subscription and management fees, and professional services for utility expense management. Pricing is consultative and quote-based, with installation costs in the range of $225 per apartment home for gas submetering; the company states that recovered utility costs frequently offset client out-of-pocket spend entirely, and that submeter installations typically achieve payback within 12-18 months.

The go-to-market motion is sales-led enterprise field sales targeting multifamily property owners and managers through free consultations and quote-based proposals, complemented by a customer service call center, inside sales support, and self-serve portals. The company serves customers across 48 US states with stated capability to service all 50, plus properties in Canada and Mexico, and has appeared on the Inc. 5000 list of fastest-growing private companies for six consecutive years.

Name

Multifamily Utility Company

Legal name

Anchor Utility

Website

https://multifamilyutility.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Anchor Utility (formerly Banyan Utility) is a private utility submetering and RUBS billing platform serving multifamily property owners and managers across 48 US states, Canada, and Mexico, with complementary expense management, auditing, and energy procurement services.

Ownership category

akta.pro rank

Product category

Multifamily Utility Billing and Submetering Services

NAICS

Facilities Support Services (56121), Utilities (221), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Facilities Support Management Services (8744), Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

Submetering & Multi-Unit Property Billing (MUDs, submeters, RUBS, landlord/tenant billing) (EUANAIAK)

akta.pro secondary industries

Metering Hardware & Field Services (AMI/AMR meters, endpoints, installation, maintenance) (EUANAIAA), Bill Auditing, Tariff Analysis & Utility Cost Optimization (EUAGAEAF)

Keywords

• Utility submetering services
• Ratio utility billing
• Multifamily utility management
• Convergent utility billing
• Vacant cost recovery

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Submetering Billing Services: Revenue generated from installing, maintaining, and reading submeters to bill residents for individual utility consumption. Typically recovered through utility cost allocation to residents.
2. RUBS Billing Services: Ratio utility billing services where utility costs are allocated among residents based on established ratios. Revenue derived from billing services and management fees.
3. Utility Expense Management: Services including invoice auditing, rate analysis, benchmarking, and vacancy cost recovery. Revenue from consulting and management fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Anchor Utility installs, maintains, and reads submeters for multifamily properties and provides Ratio Utility Billing (RUBS) to allocate utility costs when submetering is not feasible. It supports these core billing services with a convergent billing platform that consolidates multiple utility services into a single resident bill, plus ancillary utility expense management offerings such as invoice auditing, rate and tariff analysis, benchmarking, energy audits, vacant cost recovery, and collections.

Product overview

Anchor Utility operates as a comprehensive utility management platform serving the multifamily housing industry. The core offering centers on two primary billing methodologies—Submetering Billing (individual unit meters for direct consumption tracking) and Ratio Utility Billing (RUBS) for properties where submetering is impractical. These core billing services are supported by a suite of complementary modules including Convergent Billing (consolidated multi-utility billing), Utility Rate and Tariff Analysis, Invoice Auditing, Expense Management, Benchmarking, Energy Audits, Energy Procurement, Meter Maintenance, Vacant Cost Recovery, and Collections. The platform serves four main market segments: Multifamily, New Construction, Single Family Build-to-Rent (BTR), and Student Housing, operating across 48 U.S. states with service capabilities in Canada and Mexico.

Differentiator

Problem solved

Functional benefit

Products and services

• Submetering Billing

Quantifiable outcome

• 70% utility cost recovery rate
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• AppFolio: AppFolio is a property management software provider serving multifamily operators with utility billing integrations and resident portals. Competes as a broader platform incumbent where utility services are part of a larger management suite.
• Yardi (Utility Billing / Yardi Energy): Yardi offers end-to-end property management software including utility billing and submetering integration for multifamily. As a broad incumbent with deep penetration in large multifamily portfolios, it represents a bundled alternative to Anchor's specialized utility services.
• RealPage (Utility Billing Module): RealPage is a dominant property management software platform that includes utility billing, submetering integration, and resident billing within its broader suite. Competes with Anchor as an integrated incumbent that can bundle utility services into property management workflows.
• Engie Insight (formerly Ecova): Engie Insight provides utility data management, bill auditing, and energy management services to large commercial and multifamily customers. Overlaps with Anchor's utility expense management, invoice auditing, and rate/tariff analysis offerings as a broader energy management incumbent.

Emerging players

• WaterSignal: WaterSignal provides water submetering and leak detection solutions primarily for multifamily and commercial properties. Comparable as a niche metering technology provider focused on water utility management within multifamily.

Direct peers

• Conservice: Conservice is a direct competitor offering utility billing and management for multifamily and student housing properties, including submetering and RUBS. Operates nationally and is among the largest pure-play utility billing providers to the multifamily sector, directly comparable in core offering and customer base.
• Smart Energy Solutions: Smart Energy Solutions offers submetering and utility billing services for multifamily housing, providing comparable hardware installation and resident billing programs to property owners.
• Metergy Solutions: Metergy Solutions provides submetering and utility management services for multifamily, commercial, and condominium properties across North America. Directly comparable in submetering hardware, RUBS, and resident billing offerings.
• Submeter Solutions: Submeter Solutions specializes in multifamily submetering installation, billing, and utility management. Competes directly with Anchor in the core submetering and RUBS offering for apartment communities.
• National Metering Services: National Metering Services offers submetering installation, reading, and billing for multifamily properties. Directly comparable in delivering submetering hardware and resident billing services to apartment owners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/anchorutility
• Xx.com/SubmeteringNews

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Multifamily Utility Company