PORTLAND, Ore. & SEATTLE--(BUSINESS WIRE)--Building Energy, a leading provider of cloud-hosted solutions for managing energy efficiency in buildings, today announced that it has secured $300,000 in growth funding from Seattle-based Lighter Capital. Building Energy 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 and environmental impact.
“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 brings 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. Already the standard for how cities administer benchmarking initiatives, Building Energy's cloud technology reveals 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 will launch its city-scale energy efficiency offering in the first quarter of 2015 with lead users, commercial partners, and strategic alliances. For more information on the company, or to request an account, visit www.buildingenergy.com.
About Building Energy, Inc.
Building Energy, headquartered in Portland, Oregon, is developing the nation’s largest and most trusted network of building data and applications in order to catalyze better profits and practices for building owners and the whole built environment ecosystem – from design and finance, to build, operate, manage, and improve.
About Lighter Capital
Lighter Capital provides $50,000 to $1 million in funding for growing technology businesses looking to accelerate their sales, marketing or product development efforts. Lighter Capital’s RevenueLoans are more flexible than traditional loans and equity investments - repayments rise and fall with a business’s revenue, there are no personal guarantees and no dilution. Through its proprietary underwriting process, which blends automated analysis with a deep understanding of technology business models, the company has created a new source of capital for growing businesses.