For managers and owners of buildings, increasing energy efficiency through upgrades and redesigns can lead to significant cost savings, but it can be challenging to figure out which improvements to make and what the ROI will look like. Building Energy, headquartered in Portland, Oregon, has developed a solution. Its innovative cloud-based data platform reveals how buildings operate and how they can be designed and improved to make them greener and more efficient. The platform brings together energy data on 5.6 million commercial buildings in the U.S. so that service and utilities providers can deliver cost-effective energy efficiency improvements to building owners.
With $300K in financing from Lighter Capital, Building Energy will be able to execute on a blueprint for growth. The startup plans to hire development talent, increase inbound marketing efforts, add product features, and expand training for support staff.
“Lighter Capital’s approach is well aligned with the interests of companies like Building Energy,” says D. Magnus Cheifetz, CEO of Building Energy. “The funding process was really time-efficient, simple, and streamlined by their unique web-based platform.”
Building owners, managers, and energy service providers use Building Energy to compare their energy data with those of similar commercial buildings, allowing them to make highly informed decisions on what measures to focus on.
“I spent several years as a VC and entrepreneur in the clean technology space, so it was easy for me to see the promise in Building Energy,” says Lighter Capital CEO BJ Lackland. “What they offer will reduce cost and inefficiency for all players in the building space. We decided quickly we wanted to fund them and went from their initial application to closing in just one month. We’re looking forward to seeing them grow.”
Building Energy will launch its city-scale energy efficiency offering in the first quarter of 2015 with lead users, commercial partners, and strategic alliances.