Energy Savvy raises $7M to build energy efficiency software for utilities

By Emily Parkhurst, Puget Sound Business Journal

Seattle startup EnergySavvy announced Thursday that it has raised $7 million, which the company intends to use to go on a hiring binge. San Francisco-based Prelude Ventures led the round.

“The problem with energy efficiency is that it’s kind of hard to measure. There isn’t an energy efficiency meter,” EnergySavvy co-founder and CEO Aaron Goldfeder said.

Basically, you’re trying to measure what isn’t happening, which is tricky, he said. That makes it difficult for utilities to manage energy efficiency and to report to their regulators.

EnergySavvy has built cloud-based software to help utilities communicate with their customers and encourage them to make upgrades and changes to buildings so they’re more efficient. Then, the company’s software tracks how those changes impact efficiency, and creates reports on efficiency that the utilities can send to regulators that are pushing for greener energy solutions.

Adoption of the company’s software has been fantastic, Goldfeder said. EnergySavvy recently rolled out the Mass Save program in Massachusetts, and it is used by utilities in 19 other states. Read more>>