What is BlocPower?
Founded in 2014, BlocPower operates at the intersection of climate tech and urban development. The company specializes in the electrification and greening of older buildings, utilizing a proprietary software platform to identify energy-saving opportunities and coordinate clean energy installations. By focusing on the modernization of existing real estate, BlocPower addresses a critical segment of greenhouse gas emissions, positioning itself as a key player in the transition toward a low-carbon economy. Its market position is bolstered by a robust network of clean energy partners and a business model designed to facilitate large-scale, enterprise-level retrofits.
How much funding has BlocPower raised?
BlocPower has raised a total of $247.3M across 5 funding rounds:
Debt
$350K
Series A
$63M
Unspecified
$30M
Debt
$130M
Series B
$24M
Debt (2020): $350K with participation from PPP
Series A (2021): $63M led by Accelr8 Technology, The Schmidt Family Foundation, American Family Insurance Institute for Corporate and Social Impact, Elemental Excelerator, The Goldman Sachs Urban Investment Group, Kapor Capital, Cityrock Venture Partners, and Salesforce Ventures
Unspecified (2022): $30M supported by Microsoft
Debt (2023): $130M featuring Goldman Sachs
Series B (2023): $24M backed by VoLo Earth Ventures, Gaingels, and Credit Suisse
Key Investors in BlocPower
Goldman Sachs
Goldman Sachs is a leading global investment banking, securities, and investment management firm providing a wide range of financial services to corporations, governments, and institutional clients.
Salesforce Ventures
Salesforce Ventures is the corporate investment arm of Salesforce, focusing on helping businesses of all sizes transform their customer relationships through innovative technology solutions.
VoLo Earth Ventures
VoLo Earth Ventures provides first-in funding and hands-on leadership to companies driving the transformation of the global energy economy, with a focus on smart buildings and industrial solutions.
What's next for BlocPower?
With the infusion of recent capital, BlocPower is well-positioned to expand its footprint in the climate-tech sector. The company's strategic roadmap likely involves deepening its software capabilities to enhance predictive maintenance and energy optimization for its growing portfolio of retrofitted buildings. Furthermore, the continued support from institutional investors suggests a focus on scaling its financing models, which are essential for overcoming the capital-intensive barriers typically associated with large-scale building electrification. As the regulatory environment increasingly favors sustainable infrastructure, BlocPower is poised to capitalize on the rising demand for scalable, equitable climate solutions that drive both environmental impact and long-term operational savings for property owners.
See full BlocPower company page
