Pivotal leads $3M investment in EnergySavvy
By Christina Williams
Sustainable Business Oregon editor
Seattle-based EnergySavvy landed an investment led by Portland-based Pivotal Investments. Brad Zenger has joined the EnergySavvy board of directors.
Pivotal Investments led a $3 million investment in EnergySavvy, a four-year-old software company focused on the energy efficiency industry.
Brad Zenger, Portland-based Pivotal's managing director, this month joined the EnergySavvy board of directors.
Other investors in the round included Summit Capital and the Northwest Energy Angels investment group.
Seattle-based EnergySavvy works with utilities including Puget Sound Energy, Black Hills Energy and Long Island Power Authority. Its software platform, Program Optix, helps utilities get the most out of energy efficiency programs with real-time data and analysis.
“Utility energy efficiency spending has grown by an average of 25 percent per year over the last five years, to $6 billion in 2011 providing a compelling market opportunity,” Zenger said in a press release. “We believe EnergySavvy is an emerging leader, bringing innovative, valuable, software solutions to an industry that increasingly demands real-time, data driven transparency, measurement and results.”
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