Clockworks Analytics, a Boston, MA-based provider of SaaS building analytics, raised $16.1 million in funding, bringing its total raised to over $28 million.
The round was led by Carom Growth Partners, with participation from SE Ventures, an existing investor.
Carom Growth Partners is a growth equity firm based in Boston, Massachusetts. The firm was founded in 2019 by a team of experienced investors with a focus on helping scale, high-growth software and technology companies. Carom Growth Partners invests $5M - $35M of new equity into businesses that seek a new long-term partner to fund profitable growth and shareholder liquidity.
The newly secured funding will further support product development, sales and marketing efforts, and international expansion.
The company's intelligent HVAC analytics assist building teams in identifying priority energy, comfort, and equipment issues within their buildings. It provides root-cause diagnostics and recommended actions.
“I'm thrilled with the confidence that our investors are showing in Clockworks. It’s easy to see how our software is having an effect in reducing carbon emissions and energy costs. By using our solution, our customers avoided 160,000 tonnes of carbon emissions last year alone,” said Brian Day, Co-CEO, of Clockworks Analytics.
Co-CEO Nick Gayeski adds, “These new investment dollars give us the capital we need to further accelerate our already strong growth, both in North America and abroad, and to continue to invest in what we believe is the best technology in the FD&D market.”
Clockworks Analytics serves clients in diverse sectors such as healthcare services, life sciences, higher education, commercial real estate, and mechanical and operations service providers. The platform's diagnostics have led to over 40,000 building tasks being completed to address identified issues, resulting in more than 286,000 tonnes of carbon savings.
Company: Clockworks Analytics
Funding Month: August 2023
Lead Investors: Carom Growth Partners
Additional Investors: SE Ventures
Company Website: https://clockworksanalytics.com/
Software Category: Facility Management Software
About the Company: Clockworks Analytics is an essential smart building intelligence platform that provides data-driven insights into property operations for facility and energy managers. Through its technology, utilized cloud-based building analytics software, the company proactively identifies inefficiencies and root causes within building systems and prioritizes the most urgent tasks for building staff in real-time. By creating an unprecedented level of operational intelligence about a building, Clockworks helps property teams improve the reliability of their buildings’ equipment while improving air quality and reducing energy consumption and operational costs.