FirstFuel Software Secures $2.4M Initial Financing
FirstFuel Software (formerly called iblogix), a Waltham, MA-based commercial building energy analytics company, has secured a $2.4m initial financing.
The round was led by Battery Ventures and Nth Power, with participation from individual investors.
The company intends to use the funding to scale and accelerate adoption of its Rapid Building Assessment (RBA) platform, which uses advanced analytics to remotely benchmark commercial building energy performance.
Founded in 2010 by CEO Swapnil Shah, FirstFuel aims to enable utilities to engage their commercial customers, recommending operational and retrofit opportunities to generate significant energy efficiency savings, without on-site visits or connectivity to building systems.