Noesis Energy Closes $8M Series B Led by Black Coral Capital
Noesis Energy announced a free website that combines big data services and energy analytics to help commercial building and energy professionals control their energy costs. The new site lets end users better understand their energy use and costs so they can make more informed energy decisions, such as implementing a lighting upgrade or switching rate plans. The site, which is emerging from a five-month beta program, now boasts more than 4,400 buildings and 380 million square feet registered, representing building portfolios across commercial real estate, retail, hospitality, state/local government and other vertical industries.
Building on this momentum, Noesis Energy also announced $8M in Series B funding led by Black Coral Capital, including additional investment from Austin Ventures. Black Coral is a leading investment fund focused on opportunities at the intersection of hightechnology and energy. Black Coral partner Rob Day will bring his eight years of energy tech investment and governance experience to Noesis as a new member of the board of directors.
Noesis Energy addresses the information challenges organizations face as they evaluate and make decisions on opportunities to reduce energy costs. Today’s building and energy professionals are inundated with data – from meter readings to efficiency rebates and incentives – yet struggle to connect the dots to make smart energy management decisions.
Noesis Energy’s online energy management service uses big data analytics to make sense of the data and help building professionals, consultants and others work together to realize significant cost savings from energy.
“There is no shortage of data in the energy industry. What is lacking are the practical insights required to make both big and small energy decisions so organizations can start realizing the tremendous amount of pent up savings,” said Rob Day, partner with Black Coral Capital. “We believe this is why Noesis Energy has seen such impressive growth with energy managers and consultants during their beta period. This has shown us just how much these experts have been looking for a solution like this.”
The service is available in two versions. Noesis Free, which is available today, provides basic tools for energy performance tracking, reporting and online collaboration. Noesis Pro, which will be available in the fourth quarter, delivers advanced analytics, measurement and verification for improving energy performance and driving more projects to completion. Key features include:
Noesis Free – Tracking Energy Performance
Portfolio and building cost and consumption reporting
Portfolio and peer benchmarking
Incentive and rebate tracking
Noesis Pro – Improving Energy Performance
Portfolio and building energy planning and budgeting
Advanced energy project ROI modeling
Energy project measurement and verification (M&V)
“We built Noesis to be an open platform for the commercial demand-side energy industry and its ecosystem of millions of energy and facilities professionals, consultants, vendors and financing partners,” said Scott Harmon, founder and CEO of Noesis. “Because we harvest digital energy data from so many sources and combine them in one flexible and easy-to-use place, we’re opening up entirely new possibilities for online energy commerce. It’s really exciting to be a part of what I believe is a hundred-year industry transformation — one I think will have profound impacts on economies here and abroad.”
About Noesis Energy
Noesis Energy puts businesses in control of their energy management costs. Combining big data services, energy analytics and industry expertise, our free and premium services help energy professionals track and improve energy performance and cost savings for greater return on investment. Noesis Energy is backed by Black Coral Capital and Austin Ventures and maintains offices in Austin, Texas and Cambridge, Ontario, Canada.