Commercial building energy analytics company FirstFuel Software Closes a $2.4M Investment

FirstFuel Software, a commercial building energy analytics company, has secured a $2.4 million initial round of financing led by Battery Ventures and Nth Power, with participation from individual investors. The company, formerly called iblogix, Inc., will use the financing to quickly scale and accelerate adoption of its Rapid Building Assessment (RBA) platform, which provides zero-touch analysis of the energy performance of commercial buildings.

“Utilities have had difficulty engaging their commercial customers and realizing energy efficiency savings on a large scale. The FirstFuel platform applies deep analytics to consumption data, delivering highly insightful profiles of energy-use at a speed and cost that enables scalable delivery across a large portfolio,” said Swapnil Shah, co-founder and CEO of FirstFuel Software. “We look forward to working with utilities to help them engage their commercial customers and achieve energy efficiency goals.”

“FirstFuel Software has a profound opportunity to help the utility industry maximize their energy efficiency goals across commercial building portfolios,” said Jason Matlof, Partner, Battery Ventures. “We look forward to supporting the company’s growth and are excited by FirstFuel’s vision of establishing the de facto information platform for large scale energy efficiency in commercial buildings.”

USA, Boston, MA

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