Redaptive Closes On $150M For Energy Efficiency Technologies

Redaptive, an Efficiency-as-a-Service tool for commercial and industrial customers, secured $150 million in private placement funding after raising $6.5 million earlier this year.

CarVal Investors led the round that included existing investors CBRE, Engie New Ventures, Evergy Ventures and Linse Capital. Including this new funding, the San Francisco-based company has raised approximately $180 million since its inception in 2013, Redaptive CEO Arvin Vohra told Crunchbase News.

The company enables energy efficiency retrofit programs, such as materials, installation and maintenance, without upfront capital, through the use of directly measured building data. This allows companies to reduce their costs while continuing to scale their operations, Vohra said.

Redaptive intends to use the new cash infusion to expand its offerings, hire more talent and invest in new projects.