Thermondo Raises €6M in Funding

thermondoThermondo, a Berlin, Germany-based installer of heating systems, raised €6m in funding.

Backers included Holtzbrinck Ventures and Rocket Internet and existing investors E.ON, IBB Beteiligungsgesellschaft and Grey Corp.

The company intends to use the funds for nationwide expansion and triple IT development capacity.

Led by Philipp Pausder, co-founder and CEO, Thermondo is an installer of heating systems that digitizes the process of the HVAC exchange – from lead generation, sales, installation to after-sales.
At homeowners enter 15 data points about their current heating system and their future needs. An algorithm matches the customer requirements with solutions and provides quotes in real time. In addition to the algorithm, the company created a digital product database with millions of solution packages for gas, oil heating systems and for solar based systems.
Locally based teams, connected with a proprietary Android app, which collects all the relevant
information for the preparation and management of the installation, then install the new HVAC system at the customer’s homes.

Thermondo currently employs 90 people, half at its headquarters in Berlin and the other half in 12 German metropolitan regions.



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