Parity, a Toronto, Canada-based urban buildings sustainability company, raised CA$8M in funding.
Backers included Wyse, RET Ventures, and ArcTern Ventures.
The company intends to use the funds to scale its Canadian operations and expand the reach of its SaaS HVAC control technology throughout the United States.
Led by CEO Brad Pilgrim, Parity helps make urban buildings sustainable by eliminating energy waste in multi-tenant buildings. The company’s algorithm driven Energy Management Platform autonomously optimizes HVAC equipment performance and guarantees energy savings while maintaining comfort for building residents. The tech platform leverages a capital-light, non-intrusive model that can be integrated into any property’s existing operating system. Once connected, it optimizes HVAC equipment performance and minimizes energy waste, decreasing capital investment costs and offering building management teams opportunities to take tangible steps towards their ESG goals and targets.
The platform was founded in 2016, initially targeting developments in the Canadian multifamily market. After growing to 150 assets nationwide in Canada, Parity entered the U.S. market in 2020 launching with over two dozen New York-based apartment buildings in partnership with key industry leaders.
FinSMEs
17/10/2022