Retroficiency, a Boston, MA-based provider of an on-demand Building Efficiency Intelligence (BEI) platform, raised a $3.32m in initial funding.
Backers include Point Judith Capital and angel investors.
As part of the transaction, Retroficiency is acquiring the energy efficiency division (known as Clean Energy Solutions) of Nexamp, an independent power producer of distributed and utility-scale solar projects.
Additionally, the company hired:
– Karim Bibawi, as Chief Operating Officer;
– Hugh Gaasch, as Vice President of Energy Efficiency;
– Paul Gagne, as Vice President of Software Development; and
– Richard Huntley, as Vice President of Sales.
The financing, acquisition and hires will help Retroficiency scale to meet demand for its current solutions and instantly target utilities.
Led by founder and CEO Bennett Fisher, the company provides a Building Efficiency Intelligence (BEI) platform that enables energy service providers and utilities to systematically and rapidly evaluate thousands of commercial building energy efficiency measures addressing the needs of building engineers, facility managers, and financial decision makers.
In conjunction with the funding, Zaid Ashai, General Partner at Point Judith Capital will be joining Retroficiency’s board.