EnergySavvy receives a $3 million investment
PRESS RELEASE - EnergySavvy receives a $3 million investment
Pivotal Investments, a cleantech-focused venture capital firm based in Portland, OR, led the financing round alongside other leading Pacific Northwest investors including Summit Capital and investors from the Northwest Energy Angels.
Zenger said the decision to invest in EnergySavvy was clear because of the company’s track record and traction with mainstream utility customers.
“Utility energy efficiency spending has grown by an average of 25 percent per year overthe last five years, to $6 billion in 2011 providing a compelling market opportunity,” Zenger said. “We believe EnergySavvy is an emerging leader, bringing innovative, valuable, software solutions to an industry that increasingly demands real-time, data driven transparency, measurement and results.”
In the past 12 months, EnergySavvy has announced business with utilities such as Puget Sound Energy, Black Hills Energy and Long Island Power Authority. In that same time span, EnergySavvy doubled its team size and opened an office in Boston to serve its growing East Coast customer base. It also rolled out its Program Optix software platform to enable utilities to optimize their programs using real-time analytics.
EnergySavvy has been on a solid growth trajectory. This investment enables accelerated product development and an increase in our field presence to enhance our customer service. We are adding staff in both our Seattle and Cambridge, Mass. offices. For more information about the software development, client solutions and client engagement positions opening up, please visit our jobs page.
“We’re innovating with our customers to transform the way energy efficiency is quantified and delivered,” said EnergySavvy CEO and Co-Founder Aaron Goldfeder. “Our software is increasingly becoming the obvious choice for energy efficiency programs because it helps achieve more energy efficiency gains per ratepayer dollar with increased transparency and accountability.”
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