Optimum Energy, a Seattle startup whose software intelligently adjusts a building’s temperature in order to reduce energy consumption, has scored $12.2 million in fresh financing from new investor Navitas Capital and existing investor Columbia Pacific Advisors, GeekWire has learned.
The company says it has been experiencing “torrid” growth, with the software now used to manage heating and cooling across 66 million square feet of space, including in New York’s Rockefeller Center. Optimum says the software can reduce energy consumption by 125 million kW-hours and reduce CO2 emissions by over 190 million pounds — the equivalent of removing annual greenhouse gas emissions from 18,000 passenger vehicles.
We last wrote about Optimum two years ago after it scored $5 million in funding. At the time of that deal, total funding stood at $19 million.
The company says that it has patented an idea that it calls Real-Time Dynamic Commissioning — a system that “continuously learns and adapts in real time, and manages a facility’s heating and cooling requirements to produce the lowest possible energy draw.”
The company plans to use the new funds to accelerate growth, and continue R&D efforts on what a spokesperson calls “cutting-edge machine learning technology.”