Real Estate Energy Solutions Provider Redaptive Raises $250 Million
Energy-as-a-Service provider Redaptive announced an investment from growth equity investor Linse Capital, bringing the capital raised under its Series E funding round to $250 million, with proceeds aimed at helping the company expand its offerings and support more customers.
Founded in 2015, Denver-based Redaptive helps organizations to reduce energy waste, lower costs and cut emissions across their real estate portfolios, using real-time data through its data-as-a-service metering platform.
The current funding round included a $200 million investment, announced in December 2022, by the Canada Pension Plan Investment Board (CPP Investments), and also included investments from Honeywell and CBRE.
The company said that the funding will help it to support customers with energy generation and efficiency programs such as HVAC, LED lighting, solar, EV, and Data Solutions.
Redaptive CEO Arvin Vohra said:
“This additional contribution further accelerates our ability to bring our solutions to more customers making it possible for them to reduce their carbon footprints and achieve their sustainability goals.”