Nextility (formerly Skyline Innovations), a Washington, DC-based energy company, raised $7m in funding.
Backers included DC Community Ventures, a community development venture capital firm based in Washington DC.
The company intends to use the funds to expand services, improve technology and launch into new markets.
Led by Zach Axelrod, CEO, Nextility uses advanced technology to allow businesses of all types and sizes to get better energy rates. The company recently launched an energy brokerage line of business (Nextility Power and Gas), which provides small businesses with tools to automatically monitor and compare their current rate with what is available in the marketplace. When competitive rates deliver the customer savings over their current rate, Nextility Power and Gas presents the lower rate to the customer.
The company, which has offices in Los Angeles, San Diego, and Puerto Rico, has completed nearly 200 commercial-scale solar energy projects and has almost 50 employees.