EcoFactor, a Redwood City, California-based provider of home energy services, closed a $10m Series B financing.
The company intends to use the funds to develop new services, enhancing its home energy service, and expanding its engineering and sales staff.
Led by CEO Roy Johnson, EcoFactor provides a cloud-based analytics platform that analyzes data from various sources such as network connected thermostats, weather data, and consumer interactions, and applies optimization algorithms to automate energy savings for consumers.
Services are purchased by consumers through channel partners including Comcast, Reliant Energy, NV Energy, and Sacramento Municipal Utility District.
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