Bright Power, Inc., a NYC-based energy and water management partner for multifamily real estate owners, operators, managers, and investors, a closed a $24.5m Series B funding round.
The round was led by the BMO Impact Investment Fund and Generate Capital.
The company, which had previously raised a $10m debt facility from WindSail Capital Group and $1.8m from early angel investors, intends to use the funds to continue to scale, bringing its comprehensive solution set to more building owners and bringing new products and services to market.
Founded in 2004 by CEO Jeffrey Perlman, Bright Power provides strategic energy and water solutions to building owners and operators across the nation. Its energy management solutions include EnergyScoreCards benchmarking software, energy audits, energy procurement, on-site generation, green building design services, turnkey installation of energy improvements and ongoing energy management. Specializing in multifamily apartment buildings, to date, the company has worked with over 1.9M apartments that cover 1.9B square feet.