Viridity Energy, a Conshohocken, Pennsylvania-based provider of distributed energy resource management solutions, closed a Series B funding of undisclosed amount.
The round was le dby Braemar Energy Ventures, with participation from Intel Capital.
The company will use the proceeds from the financing to further accelerate the commercial growth of its real-time dynamic demand management platform as well as develop channel relationships.
In conjunction with the funding, Braemar’s Scott DePasquale will join Viridity Energy’s board of directors.
Founded in 2008 and led by president and ceo Audrey Zibelman, the company offers distributed demand management software system and services, which enable large institutions such as college campuses, federal and municipal complexes, military bases, transit systems, industrial companies and hospitals to optimize their portfolios of buildings and energy investments by creating unified power assets, which are then sold in real-time into the wholesale energy market.