Redaptive, a San Francisco, CA-based provider of commercial Efficiency-as-a-Service (EaaS), secured $20m in funding.
The round was led by CBRE, joined by ENGIE New Ventures, GXP Investments, the venture capital arm of Great Plains Energy Incorporated, and Linse Capital.
The company intends to use the funds to expand its product offerings and reach a larger market of commercial customers.
Led by Co-CEOs John Rhow and Arvin Vohra, Redaptive provides an Efficiency-as-a-Service solution that enables efficiency upgrades that include materials, installation and maintenance. Customers can realize utility bill savings with kWh savings verified through a metering and building intelligence platform to determine a monthly avoided energy payment.
The company currently manages a national portfolio of efficiency projects for commercial and industrial customers, including Aramark and McKesson, and many other Fortune 500 companies.