Blog: New Funding Sets Us Up For Growth

by Scott Harmon

We are excited to announce that we've raised a second round of funding that sets us up perfectly to build upon our recent success and growing momentum.  This latest round, officially our Series B, is $8mm and was led by Black Coral Capital, a Boston-based fund focused on energy investments, and includes an additional investment from Austin Ventures, our Series A lead.   

We've come a long way since we announced our Series A investment of $6.5mm in 2011 and the acquisition of Managing Energy, Inc., the leading provider of web-based energy analysis, benchmarking and reporting tools.  In February of this year we launched the beta program for our online energy management dashboard and began inviting new users in on a regular basis, continually improving the site and adding new features based on feedback from hundreds of active beta testers.  During the beta period our end users registered over 3,500 buildings representing over 300mm square feet, which blew past our expectations.  Based on the success of the program and the overwhelmingly positive feedback from end users, we exited our beta program last month and are now officially 'open to the public.'  

This next round of funding allows us to build on this most recent success by investing in sales, marketing and additional development to ensure that we continue to evolve our solution to meet the needs of commercial, industrial and institutional energy and building professionals. We will continue our singular focus on providing the world's best free, online energy management dashboard with the energy analysis tools to automatically build and continuously update ASHRAE / IPMVP energy baselines to allow energy professionals to analyze historical building performance, forecast savings from potential energy projects, dynamically track ongoing projects and measure the savings from completed projects.  In addition, we'll be focused on building out our premium offerings to complement today's free services.  All of this – and more — will be announced in our official launch next month.  So, stay tuned…

Finally, I want to thank all of our end users and partners for their help in making our first six months so successful.  We could not have done it without you.  Thank you, thank you.  

If you have any questions or comments, please drop us an email.


- Scott Harmon, CEO, Noesis Energy