Copper Labs, a Boulder, Colo.-based energy technology company partnering with utilities to deliver revenue-grade energy usage data and real-time customer engagement for enhanced demand management, raised $2m in financing.
The round was led by Moonshots Capital with participatiom from new and existing investors Blue Bear Capital, Bull Creek Capital, Capital Factory and Service Provider Capital. As part of the deal, Craig Cummings, co-founder and general partner at Moonshots Capital, and Dr. Carolin Funk at Blue Bear Capital will both join Copper Labs’ board.
The company intends to use the funds to continue to expand operations.
Founded in 2016 by CTO and founder Jeff Mathews and led by Dan Forman, CEO, Copper Labs provides utilities with actionable, real-time energy measurements and insights that can be immediately shared with consumers to achieve cost and energy savings. Copper, the company’s flagship wireless energy monitor, collects revenue-grade data from electric, gas and water meters to generate insights with practical value alerts during peak periods.
Copper Labs began commercial sales earlier this year.