EnergySavvy, a Seattle-based software company providing solutions that increase the effectiveness of utility and governmental energy efficiency programs nationwide, announced today that it obtained $3 million in a new financing round. The company also announced the addition of Pivotal Investments’ Managing Director Bradley Zenger to its board of directors.
Pivotal Investments, a cleantech-focused venture capital firm based in Portland, Oregon, led the financing round alongside other Pacific Northwest investors including Summit Capital and investors from the Northwest Energy Angels. EnergySavvy said that it will use this investment to accelerate product development and increase its field presence to enhance its customer service.
“We’re innovating with our customers to transform the way energy efficiency is quantified and delivered,” Aaron Goldfeder, EnergySavvy’s CEO and Co-Founder, said. “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.”
“Utility energy efficiency spending has grown by an average of 25 percent per year over the 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 won business with utilities such as Puget Sound Energy, Black Hills Energy and Long Island Power Authority. During this time EnergySavvy has doubled its team size and opened an office in Boston to serve its growing East Coast customer base. It also released its Program Optix software platform, which enables utilities to optimize their programs using real-time analytics.