Parity Raises $19M in Series B Funding


Parity, a Toronto, Canada-based remote HVAC optimization as a service company for multifamily buildings and hotels, raised $19M in Series B funding.

The round was led by Idealist Capital.

The company intends to use the funds to focus on geographic expansion across the United States, as well as targeting new verticals, including senior and student housing, and to continue rolling out new products and services to further drive automated building efficiency and grid interactivity.

Led by Brad Pilgrim, Founder and CEO, Parity is a HVAC optimization as a service company which delivers automatic, guaranteed energy and cost savings to multifamily residential and hospitality properties. Its control automation algorithms, real-time monitoring, proactive technical support, and savings verification ensure that heating, cooling, and ventilation systems are operated efficiently every day. This eliminates energy waste, optimize demand response revenue, and reduces onsite staff workloads.

To date, Parity has delivered measured energy savings across more than 65 million square feet of multifamily and hospitality real estate.