Redaptive, an Energy-as-a-Service provider, has secured additional investment from growth equity investor Linse Capital as part of its Series E funding round, bringing the total raised to $250 million. This comes after a $200 million investment announced in December 2022 by the Canada Pension Plan Investment Board (CPP Investments) and investments from Honeywell and CBRE.
The funding will help Redaptive to expand its offerings and serve more customers, specifically by supporting them with energy generation and efficiency programs such as HVAC, LED lighting, solar, electric vehicles, and data solutions. Redaptive, founded in 2015 and based in Denver, provides solutions to help organizations reduce energy waste, lower costs, and cut emissions across their real estate portfolios. Its data-as-a-service metering platform provides real-time data to customers, allowing them to make informed decisions about energy usage and identify areas for improvement.
The additional investment from Linse Capital will help Redaptive to continue to innovate and expand its offerings, enabling it to better support its customers in their sustainability efforts. The company’s services are increasingly in demand as organizations seek to reduce their carbon footprint and lower energy costs, and Redaptive’s expertise and technology make it well-positioned to meet these needs.
Overall, the additional investment is a significant milestone for Redaptive, providing the resources it needs to grow and expand its reach while continuing to provide innovative solutions to help organizations achieve their sustainability goals.