March 19, 2015: Building Energy Inc. Secures $300,000 in Growth Funding
Its Data-Driven Solutions Help Building Owners Make Informed Decisions about Energy Consumption
PORTLAND, Ore., and SEATTLE — Building Energy Inc., a provider of cloud-hosted solutions for managing energy efficiency in buildings, announced that it has secured $300,000 in growth funding from Seattle-based Lighter Capital. Building Energy said it will use the funding to expand operations and enhance its data-driven solutions designed to help building owners, managers, and energy service providers make informed decisions about energy consumption.
“We are delighted to be working with Lighter Capital to help our company grow,” said D. Magnus Cheifetz, CEO of Building Energy. “Lighter Capital’s approach is truly unique and well aligned with the interests of companies like Building Energy. The funding process was really time-efficient, simple, and was further streamlined by Lighter Capital’s unique web-based platform. We look forward to a continued working partnership with the Lighter Capital team.”
Building Energy said it will bring together energy data on the 5.6 million commercial buildings in the U.S. so that service providers and utilities can deliver cost-effective energy efficiency improvements to building owners. The company’s cloud technology will help reveal how buildings operate and how they can be designed and improved to increase commercial value and public benefit.
“Having spent several years as a VC and entrepreneur in the clean technology space, it was easy to see the promise in Building Energy,” said BJ Lackland, CEO of Lighter Capital. “What they offer will truly reduce cost and inefficiency for all players in the building space. We’re thrilled to have provided funding from application to closing in just one month, and excited to see them grow.”
Building Energy expects to launch its city-scale energy efficiency offering in the first quarter of 2015 with lead users, commercial partners, and strategic alliances. For more information, visit www.buildingenergy.com.
Publication date: 3/16/2015