RockPort Capital Leads $10 Million First Round of VC for FirstFuel Software
Posted in Energy Efficiency on February 23rd, 2012 by News Desk –
Boston — FirstFuel Software, a provider of commercial-building energy analytics software, announced on Thursday it has raised $10 million in its first round of venture capital, which was led by RockPort Capital.
Founded last year, FirstFuel has developed software that uses advanced analytics to remotely benchmark building energy performance, providing energy usage profiles that eliminate the need for on-site energy assessments. The software helps deliver large-scale operational energy efficiency as well as identifying retrofit opportunities across commercial building portfolios.
FirstFuel was recently selected by the U.S. Department of Defense’s Environmental Security Technology Certification Program to demonstrate their technology and savings impact on military installations. DoD plans to implement FirstFuel’s platform to perform “zero-touch” energy performance analysis and identify opportunities to reduce the more than $4 billion its spends on energy per year, according to FirstFuel.
FirstFuel said the new investment funds will support its expansion in the utility and government markets, and will accelerate product development efforts to expand the capabilities of its building energy assessment platform.
Nth Power and Battery Ventures also invested in the deal.
FirstFuel Software website
