Multifamily Utility Company
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.
- Company typePrivate
- Founded2007
- HeadquartersSan Diego, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
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.
Multifamily Utility Company firmographics
Firmographics- 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
Multifamily Utility Company industry classification
Industry- 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
Where Multifamily Utility Company is headquartered
LocationHeadquarters
- HQ city
- San Diego
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Multifamily Utility Company business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- 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.
- 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.
- Utility Expense Management: Services including invoice auditing, rate analysis, benchmarking, and vacancy cost recovery. Revenue from consulting and management fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Submetering and RUBS billing services with free consultation |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Multifamily Utility Company product offering
Product offeringCore 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
Companies that use Multifamily Utility Company
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles2 records
Multifamily Utility Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Multifamily Utility Company partnerships and signals
Strategic signalScale indicators6 records
Recent moves6 records
Expansion highlights5 records
Multifamily Utility Company competitors and assessment
Company assessmentBroad 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
Multifamily Utility Company social profiles
Digital presenceMultifamily Utility Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Multifamily Utility Company leadership team
Management profileNumber of profiles
Profiles2 records
Multifamily Utility Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Multifamily Utility Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Multifamily Utility Company
What does Multifamily Utility Company do?
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.
Is Multifamily Utility Company a public or private company?
Multifamily Utility Company is a private company. It is classified as unknown and is currently operating.
When was Multifamily Utility Company founded?
Multifamily Utility Company was founded in 2007. It employs 101 to 250 people.
Where is Multifamily Utility Company based?
Multifamily Utility Company is headquartered in San Diego, United States, in the North America region.
How does Multifamily Utility Company make money?
Three revenue lines are on record. Submetering Billing Services are the primary driver. The others are RUBS Billing Services and utility Expense Management.
Who are Multifamily Utility Company's main competitors?
Broad incumbents on record are AppFolio, Yardi (Utility Billing / Yardi Energy), RealPage (Utility Billing Module) and Engie Insight (formerly Ecova). WaterSignal is listed as an emerging player. Direct peers are Conservice, Smart Energy Solutions, Metergy Solutions, Submeter Solutions and National Metering Services.
Does Multifamily Utility Company have an API?
No public API is recorded for Multifamily Utility Company.
What industry is Multifamily Utility Company in?
Multifamily Utility Company's product category is Multifamily Utility Billing and Submetering Services. Its primary akta.pro industry code is EUANAIAK, Submetering & Multi-Unit Property Billing (MUDs, submeters, RUBS, landlord/tenant billing), with a secondary code of EUANAIAA, Metering Hardware & Field Services (AMI/AMR meters, endpoints, installation, maintenance). Its NAICS code is 56121 and its SIC code is 8744.