, which aims to bring corporate customers energy savings without out-of-pocket costs, today announced it has raised $55 million in a growth equity and debt funding round led by Balance Point Capital, with participation from Connecticut Innovations. The fresh funds follow a $22 million funding round that included Edison Partners and the state of Connecticut (via the Department of Economic and Community Development). CEO Albert Subbloie says the money will fuel the startup’s go-to-market efforts and accelerate its product growth.
“Successful energy management is a real problem for most organizations, due to the complex and fragmented nature of the energy space. It is a daunting challenge for companies to navigate and implement energy efficiency measures with the many and complex energy savings solutions being offered