What is BlocPower?
Founded in 2014 and headquartered in Brooklyn, New York, BlocPower operates at the intersection of climate tech and urban development. The company specializes in the modernization of older buildings, utilizing proprietary software to identify and implement energy-efficient upgrades. By streamlining the deployment of heat pumps, solar arrays, and smart building controls, BlocPower effectively reduces greenhouse gas emissions while lowering operational costs for property owners. Its market position is defined by a unique ability to bridge the gap between complex climate goals and practical, scalable building retrofits, making it a critical player in the national effort to achieve net-zero targets.
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
Series B
$24M
Debt
$130M
Debt (2020): $350K with participation from PPP
Series A (2021): $63M led by The Goldman Sachs Urban Investment Group, American Family Insurance Institute for Corporate and Social Impact, Elemental Excelerator, Cityrock Venture Partners, The Schmidt Family Foundation, Accelr8 Technology, Salesforce Ventures, and Kapor Capital
Unspecified (2022): $30M supported by Microsoft
Series B (2023): $24M featuring Gaingels, VoLo Earth Ventures, and Credit Suisse
Debt (2023): $130M backed by Goldman Sachs
Key Investors in BlocPower
Gaingels
Gaingels is a leading investment syndicate supporting the LGBTQ community and allies, deploying capital into high-growth companies that prioritize inclusive teams and diverse leadership.
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 specific focus on smart buildings and industrial solutions.
Microsoft
Microsoft is a global technology leader providing cloud-based services and software solutions, actively investing in innovative companies that leverage technology to address complex global challenges.
What's next for BlocPower?
With this major strategic investment, BlocPower is poised to scale its operations significantly, expanding its footprint across diverse urban markets. The company is expected to focus on enhancing its software-driven project management capabilities and deepening its relationships with clean energy partners to facilitate larger, more complex retrofitting projects. As the demand for sustainable infrastructure grows, BlocPower's ability to provide turnkey solutions will likely attract further institutional interest, solidifying its trajectory as a cornerstone of the climate technology ecosystem. The firm remains focused on driving equitable access to clean energy, ensuring that its growth strategy aligns with broader social and environmental impact goals.
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