What is EcoFactor?
EcoFactor specializes in delivering automated energy savings, comfort, and control through a comprehensive suite of services including energy efficiency, demand response, and HVAC performance monitoring. Their cloud-based platform is designed for flexible deployment, offering a complete residential energy solution that enhances consumer experience and maximizes energy savings. By targeting utilities, home service providers, and energy retailers, EcoFactor leverages patented analytics to optimize demand response and improve HVAC performance, ultimately enabling consumers to reduce energy costs while maintaining home comfort.
How much funding has EcoFactor raised?
EcoFactor has raised a total of $37M across 7 funding rounds:
Series A
$2.4M
Private Equity
$5.9M
Unspecified
$3.5M
Private Equity
$8M
Series B
$10M
Series C
$7.1M
Debt
$150K
Series A (2009): $2.4M with participation from Claremont Creek Ventures
Private Equity (2009): $5.9M led by RockPort Capital Partners and Claremont Creek Ventures
Unspecified (2010): $3.5M supported by RockPort Capital Partners
Private Equity (2012): $8M featuring Rockport Capital, Aster, and Claremont Creek Ventures
Series B (2013): $10M backed by NRG Energy, Rockport Capital, Aster, and Claremont Creek Ventures
Series C (2015): $7.1M with participation from Rockport Capital, Aster, and Claremont Creek Ventures
Debt (2020): $150K led by PPP
Key Investors in EcoFactor
Claremont Creek Ventures
Claremont Creek Ventures (CCV) is a venture capital firm focused on early-stage IT opportunities, with particular expertise in energy technology. They aim to build successful companies by efficiently utilizing capital and fostering strong teams.
RockPort Capital Partners
RockPort Capital Partners is an investment firm that has provided backing to EcoFactor. Their involvement suggests a strategic interest in the energy technology sector and companies focused on efficiency and performance optimization.
NRG Energy
NRG Energy is an integrated power company that provides a wide range of energy solutions to consumers. Their investment in EcoFactor indicates a strategic alignment with companies enhancing energy efficiency and demand response capabilities.
What's next for EcoFactor?
With the recent major strategic investment, EcoFactor is poised for significant growth and innovation. The company's focus on optimizing energy consumption and enhancing HVAC performance aligns with increasing market demand for sustainable and cost-effective energy solutions. Future developments are likely to involve further enhancements to their cloud-based platform, expanding their service offerings to a broader customer base, and strengthening partnerships within the utility and energy sectors. This strategic financing will empower EcoFactor to solidify its market position and drive further advancements in energy management technology.
See full EcoFactor company page
