Allumia, a Seattle WA-based SaaS commercial energy technology platform, raised $7.5 million in Series A2 funding.
The round was led by JW Asset Management, with participation from American Electric Power (AEP) and Duke Investments LLC.
The purpose of this financing is to accelerate the development of Allumia’s Energy Efficiency-as-a-Service (EaaS) technology platform for large-scale deployment of energy efficiency solutions for utilities’ mass-market commercial and industrial (C&I) customers.
Company: Allumia, Inc.
Raised: $7.5M
Round: Series A2
Funding Month: February 2022
Lead Investors: JW Asset Management
Additional Investors: American Electric Power (AEP) and Duke Investments LLC
Company Website: https://www.allumia.com/
Software Category: Energy Efficiency-as-a-Service platform
About the Company: Led by Founder and CEO Aaron Block, Allumis delivers an Energy Efficiency-as-a-Service platform to the commercial sector, with software and IoT platform that optimizes and automates the process of financing, developing, metering, and maintaining projects. The technology platform lets utilities deliver and fund efficiency projects to their C&I customers at scale while minimizing costly investments in discovery, project management, metering and verification (M&V), and ongoing service. The solution provides software-based automation across the full project lifecycle, including solution design, project workflow management, document generation and management, project performance monitoring, revenue-grade metering, M&V, monthly billing on behalf of utilities, and long-term maintenance support. The company provides services directly to commercial and industrial customers nationwide as well as through utility partnerships.
Source: https://www.finsmes.com/2022/02/allumia-raises-7-5m-in-series-a2-financing.html